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Bond Market News
Jubilant Pharma to Raise $400mn Loan to Repay Dollar Bonds
July 14, 2022
Jubilant Pharma Ltd has announced that its subsidiary Jubilant Pharma Holdings Inc (JPHI) will raise a $400mn loan from Standard Chartered Bank. It will be the 5Y loan of which $350mn will be used for repayment of existing term loan and bonds while the remaining $50mn will be used for future growth capex. The company has an outstanding $200mn 6% dollar bond due 2024 outstanding. Jubilant Pharma is an integrated global pharmaceutical company engaged in manufacturing and supply of Radiopharmaceuticals with a network of radio-pharmacies in the US.
Jubilant Pharma’s dollar bonds were trading flat with its 6% 2024s at 96.25, yielding 8.49%.
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