Thailand-based global sustainable chemical company, Indorama Ventures Public Company Limited (IVL), was named "Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year", for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.
Alpha Southeast Asia, an institutional newspaper focused on investing in Southeast Asia, announced the award during the 15th Best Deal & Solution Awards 2021. This recognition marks IVL’s dedication to sustainable growth and ESG performance as a global leader in the chemical industry.
Yash Lohia, Chairman of ESG Council at Indorama Ventures, said that this award highlights our long-standing commitment to sustainability and generates possibilities for investors to participate in the positive change of the chemical sector. This award demonstrates that financial markets recognize their ambitious sustainability and environmental, social, and governance (ESG) activities toward a more sustainable future.
As Thailand's largest SLB transaction and the first to be offered to both institutions and high-net-worth investors, IVL's THB 10 billion issuances establishes a new benchmark. The financial instrument is connected to the company's environmental goals, which include reducing GHG emissions intensity by 10% by 2025, expanding PET bale input recycling to 750,000 tonnes per year by 2025, and achieving a 25% renewable electricity consumption rate by 2030.
Siddiq Bazarwala, Publisher, Alpha Southeast Asia, said that launched in the midst of adverse market conditions, Indorama Ventures' THB10,000 million Sustainability-Linked Bond is a milestone transaction for Thailand's expanding bond market. The enormous reaction to one of ASEAN's most innovative Socially Responsible Investment bond issuance will serve as a valuable model for other borrowers.
For the green transaction, IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and the HSBC Bangkok office as arrangers and bookrunners.
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