IVL: Sustainability-Linked Bond drives climat...
IVL

Sustainability-Linked Bond drives climate action and sustainable production

(Source: IVL)
(Source: IVL)

Showcasing IVL’s commitment to sustainable growth, the company has issued a THB 10 billion (€259 million) triple-tranche Sustainability-Linked Bond (SLB). It is the largest SLB issued in Thailand and the first offered to both institutions and high-net-worth investors.
An SLB is defined as any type of bond instrument for which the financial and/or structural characteristics can vary depending on whether the issuer achieves predefined sustainability or environmental, social and governance (ESG) objectives. The bond is part of the financing strategy of Indorama Ventures Public Company Ltd. (IVL), Bangkok/Thailand, across a range of instruments linked to the company’s sustainability targets.
The SLB is linked to IVL’s performance of reducing GHG emissions intensity by 10% by 2025 (from a 2020 base), increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.
In recent years, IVL secured loans linked to improvements in the company’s sustainability performance as a global leader ESG integration. These included Thailand’s first Green Loan of US$200 million and €200 million from Japan’s Mizuho Bank, Thailand’s first cross-border Sustainability-Linked Ninja Loan worth $225 million from 16 institutions in Japan and a Blue Loan of $300 million arranged by International Finance Corporation and funded by Asian Development Bank and DEG.

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