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Jubilant Pharma, the subsidiary of Jubilant Life Science, has raised USD 300 million (approx Rs 1,998 crore) through issuing five year bonds to mainly retire debts.
Jubilant Life Sciences has said in a BSE filing that “Our material wholly-owned subsidiary, Jubilant Pharma Ltd (JPL), has successfully completed the pricing of its rated unsecured high yield bonds (Notes) at a yield of 4.875 percent per annum issued at par for USD 300 million maturing in September 2021.”
It added that “The net proceeds of the Notes shall be used to prepay the existing debt of JPL and its subsidiaries, for up streaming up to USD 50 million to Jubilant Life Sciences for prepayment of its existing debts and general corporate purposes.”
