Lowenstein Sandler represented Indorama Ventures Public Company Limited (“IVL”) in the United States of America with the negotiation and closing of a $640 million term loan from a consortium of banks based in Asia, including The Siam Commercial Bank Public Company Limited, Krung Thai Bank Public Company Limited and Bangkok Bank Public Company Limited, who were the mandated lead arrangers and book runners.
The loan closed on December 23, 2013. Simultaneously, we represented the U.S. operating subsidiaries of IVL in connection with the closing of a combined working capital facility, having Regions Bank as agent for itself, Bank of America, totaling $360 million of commitments. IVL’s operating companies in the United States are: PET producers StarPet, Inc. and AlphaPet, Inc.; polyester fiber and resin producer Auriga Polymers Inc.; purified ethylene oxide & mono ethylene glycol producer Indorama Ventures (Oxide & Glycols) LLC; and polyolefin fiber manufacturers FiberVisions Products, Inc. and FiberVisions Manufacturing Company. The Lowenstein Sandler teams that closed both the term and revolving loans were led by Partner Nicholas San Filippo and Senior Counsel Stuart S. Yusem and included Thomas E. Feeney, Edward J. Newlands, Demitrios (Jimmy) Moustakis, Sam E. Khan and Michael Amalfe.
