IVL clinches first green loans from Mizuho

IVL clinches first green loans from Mizuho

SET-listed Indorama Ventures Plc (IVL), a leading manufacturer of polyester and plastic packaging material, has clinched Thailand's first green loans from Japan's Mizuho Bank.

The loans, for US$100 million and €100 million, are being provided in the form of positive incentive loans, in which the commercial terms are linked to the improvement in IVL's ESG (environment, social and governance) rating.

"IVL is emphasising its fiscal responsibility as well as sustainability to bring green finance to Thailand," said Sanjay Ahuja, chief financial officer of IVL.

Aloke Lohia, IVL's chief executive, said the company targets becoming the leading global chemical conglomerate by 2023. Three businesses with high growth potential include packaging, speciality chemicals and olefins, he said.

In 2019 IVL aims for revenue of $14 billion, representing 35% year-on-year growth, with Ebitda (earnings before interest, tax, depreciation and amortisation) projected at $1.75 billion, or a 30% year-on-year increase.

In 2018, IVL posted total revenue of $10.7 billion, up 27% year-on-year, with a core Ebitda of $1.44 billion, up 44% year-on-year. Net profit for the period was $819 million, up 33% year-on-year.

IVL also recorded the most acquisitions in its history last year, with 12 new companies and three joint ventures.


Do you like the content of this article?
COMMENT
TRENDING

Actor, National Artist Sombat Metanee dies aged 85

Legendary actor and National Artist Sombat "Ad" Metanee has died in his sleep at his Bangkok home at the age of 85 years.

11:39

Partners in isolation

Recent events and sanctions imposed on Russia and Myanmar appear to have brought the two countries closer together, and this will continue as long as the military junta remains in power, according to analysts.

11:22

Nationwide river flooding warning

The Royal Irrigation Department has warned that forecast heavy rain could lead to flooding from overflowing rivers nationwide from Saturday to next Wednesday.

10:55