"Siam Commercial Bank" emphasizes its policy to promote sustainable finance by providing a Sustainability-Linked Loan (SLL) of 6 billion baht to Indorama Ventures, or IVL, a leading global chemical company and the world's largest producer of recycled PET plastic for beverage packaging. This funding aims to manage liquidity and serve as working capital to enhance operational capabilities, making SCB the first Thai bank to support such a loan for IVL.

Dr. Yunyong Thaicharoen, Senior Executive Vice President and CEO of the Wholesale Banking Group at Siam Commercial Bank stated, "SCB places great importance on environmental sustainability (ESG) policies, focusing on developing sustainable financial solutions by integrating environmental perspectives into the development of comprehensive financial products and services. This includes the loan approval process that meets diverse customer needs while also considering environmental and social management. This approach supports Thailand's transition to a circular and low-carbon economy. The support for the Sustainability-Linked Loan to Indorama Ventures is one of the bank's successes in developing diverse financial tools to promote sustainability, addressing customer needs in all dimensions. We are very proud to be the first Thai bank trusted by IVL to support this 6 billion baht Sustainability-Linked Loan, confident in IVL's effective and globally recognized sustainability vision and practices. We hope this collaboration will contribute to IVL's sustainability goals towards becoming a Net-Zero organization as intended."

 

Mr. D.K. Agarwal, CEO of Indorama Ventures Public Company Limited expressed, "We are pleased to receive the Sustainability-Linked Loan (SLL) support from Siam Commercial Bank, which aligns with our financial strategy to access diverse funding sources. This also reinforces IVL's commitment to achieving sustainability goals and creating a better future for the world. The success of obtaining this Sustainability-Linked Loan reflects that our sustainability efforts have gained continuous trust from financial institutions both domestically and internationally, especially from Siam Commercial Bank, which is the first Thai financial institution that IVL is confident in and trusts to support this type of funding. The company is committed to developing sustainability and growth to enhance long-term socio-economic improvement."

The 6 billion baht Sustainability-Linked Loan is a long-term loan supported by the bank for Indorama Ventures Global Services Co., Ltd. (IVGS), a subsidiary of IVL, aimed at managing liquidity in line with future operational performance. The loan includes a condition for a reduction in interest rates for the year in which the company achieves a sustainability score (ESG Score) from S&P Global that meets the bank's specified threshold. The company plans to draw the loan in June 2022.