Allen & Overy has advised International Finance Corporation, Asian Development Bank and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH on a USD300 million blue loan financing for Indorama Ventures Public Company Limited
The financing was the first ever blue loan granted to a global plastic resin manufacturer and ADB-assisted independent verification by DNV GL as a blue loan complying with the Green Loan Principles (Loan Market Association, Asia Pacific Loan Market Association, and Loan Syndications and Trading Association. 2018) with reference to the Blue Natural Capital Financing Facility’s Blue Bond Guidelines. The financing will be used by IVL to increase its recycling capacity in Thailand, Philippines, India, Indonesia and (for IFC and DEG loans) Brazil, which is expected to lead to the recycling of 50 billion PET bottles globally a year by 2025, thereby reducing marine plastic pollution.
Indorama Ventures is a Thai-listed global producer and recycler of Polyethylene terephthalate (PET) resin, widely used in the manufacturing of plastic bottles.
The A&O team was led by partner Chris Bishop (Picture) with support from counsel Anchalee Limviriyalers, senior associate Peerajit Chanmolee and associates Jessica Lee and William Khun.
Law Firms: Allen & Overy;