#Yarn & Fiber

2022-11-17

Indorama Ventures signs €275 million ESG-linked revolving credit facility, bolstering its sustainability-led corporate financing program

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has signed an ESG-Linked Revolving Credit Facility of €275 million with six syndicate banks, a further boost to the company’s long-standing commitment to sustainability-led corporate financing.

Tied to IVL’s ESG risk rating, the revolving credit facility’s pricing mechanism results in margin adjustments related to management score improvements across the Material ESG Issues as defined by independent sustainability and corporate governance research firms. The facility is available to IVL subsidiaries in Europe for two-years with the option to extend for one more year.

DK Agarwal, CEO at Indorama Ventures, said, “Sustainability-driven financing is an increasingly important enabler of IVL’s growth strategy, and we have been actively working in this growing area of corporate finance for some time, culminating in this latest development of securing an ESG-linked revolving credit facility. I would like to thank our partners for their support.”

The facility is part of IVL’s corporate financing strategy across a range of instruments linked to the company’s ESG and sustainability commitments. In November 2021, the company issued a THB 10 billion triple-tranche Sustainability-Linked Bond (SLB), the largest SLB issued in Thailand. IVL is on track to achieve its 2025 ESG goals. More ambitious 2030 targets include a 30% reduction in Scope 1 & 2 combined greenhouse gas (GHG) intensity, 15% reduction in energy intensity, 25% use of renewable electricity, 20% reduction in water intensity, 90% diversion of waste from landfill, recycle 1.5 million tons in PET bale input annually.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, “Incorporating ESG targets into our corporate financing program is an important part of our overall commitment to sustainability. Our track record of meeting and growing our ESG targets is increasingly attractive to lenders and investors as we optimize IVL’s capital structure.”

ING Bank NV is the lead arranger and ESG coordinator together with other syndicate lenders including ABN Amro Bank NV, Bangkok Bank, Luminor Bank, Siam Commercial Bank and others.

Jan De Jaeck, Sustainable Finance Lead Belgium at ING Bank NV, said, “With the incorporation of an ESG rating link, Indorama Ventures has further embedded its group-wide sustainability strategy execution into the group’s corporate financing program. ING is proud to have acted as IVL’s ESG coordinator for this transaction”.

textile.4U publishes special edition “Top 100 Textile Recycling Companies 2025”

With a comprehensive 176-page special edition, textile.4U is dedicating its latest issue entirely to one of the most dynamic and influential topics in today’s textile industry: textile recycling. The new issue, published exclusively in high-quality print, presents the Top 100 textile recycling companies researched and selected by TexData – organizations that already play a key role in the transition to circular textiles or are expected to have a significant impact in the near future.

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

Durak Tekstil enters 2026 with positive momentum, strengthens its global market focus

Durak Tekstil, maintaining its profitability and turnover levels in 2025 compared to the previous year, prioritizes growth through its export-oriented sales strategy. Increasing both its capacity and utilization rate, the company anticipates further gains in 2026 through expansion in global markets.

Vandewiele Group: Innovation across the textile value chain at ICFE Istanbul 2026

At the 2026 Istanbul Carpet & Flooring Expo (ICFE), Vandewiele Group presents its latest advancements spanning the entire textile value chain. From spinning and weaving to tufting, carpet manufacturing and digital finishing, the Group demonstrates how integrated innovation can boost performance, efficiency and sustainability across all stages of production. As a global technology leader, Vandewiele continues to develop solutions that strengthen processes, enhance product quality and enable smarter, greener manufacturing.

CARBIOS and Wankai sign strategic PET biorecycling pact

CARBIOS (Euronext Growth Paris: ALCRB) and Wankai New Materials (“Wankai”), a listed subsidiary of Zhink Group, the 3rd largest PET producer in China and 4th worldwide, announce the signing of the definitive agreement establishing a strategic partnership for the industrial rollout of CARBIOS’s PET biorecycling technology in Asia. The first milestone will be the construction of a PET biorecycling plant in China.

Global textile expertise meets high-end contract design: Heimtextil and Hospitality Interiors Europe announce partnership starting 2027

Heimtextil further expands its role as the global leading trade fair for home and contract textiles and textile design – and starts a new partnership with the format Hospitality Interiors Europe (HINT). With the launch, a complementary event will take place alongside Heimtextil 2027, targeting decision-makers from the hotel and high-end hospitality design sector. Both platforms combine their strengths, create tangible synergies for exhibitors and visitors – and expand the holistic interior design offering for architecture, interior design, hospitality and the contract sector. Hospitality Interiors Europe already presents itself at Heimtextil 2026 with its own dedicated lounge area.

Tunicotex Group boosts OTDP to 85%, cuts planning time by 25% & expands production capacity by 40%

Coats Digital is delighted to announce that following the implementation of FastReactPlan, leading Tunisian premium knitwear manufacturer, Tunicotex Group, has significantly improved its on-time delivery performance from 75% to 85%, reduced planning time by 25%, minimised delays and penalty costs, and unlocked 40% additional capacity to take on more customer orders and support sustained business growth.