Ineos Group has begun marketing new term loans to raise approximately $960 million, marking the second debt market foray for Jim Ratcliffe's chemicals conglomerate in recent weeks. The company launched a minimum €400 million ($461 million) euro term loan B and a $500 million term loan B on Monday, according to a person familiar with the matter.

The proceeds will fund repayment of existing debt obligations, suggesting Ineos faces ongoing liquidity pressures despite its status as one of Europe's largest chemical producers. This follows what the source describes as a period of struggle for the privately-held group.

Ratcliffe, Britain's richest person, has been aggressively restructuring the business amid challenging market conditions. The timing coincides with heightened geopolitical tensions, including conflicts in the Middle East that have impacted energy and chemical markets.

Repeated debt issuance signals Ineos may be facing more than temporary cash flow issues, potentially reshaping how investors view the firm's credit profile and Ratcliffe's turnaround strategy.