Jubilant Pharma arm to raise $400 mn from Standard Chartered to repay debt

Jubilant Pharma Holdings on Wednesday said it has signed an agreement with Standard Chartered Bank for a five-year loan of USD 400 million, about Rs 3,186 crore.

Majority of the amount will be used for repayment of existing term loan and debt bonds, the company said in a regulatory filing.

While the term loan and bonds aggregate to USD 350 million, about Rs 2,787 crore, the company is raising another tranche of USD 50 million (about Rs 400 crore) for capital expenditure.

"Jubilant Pharmova Limited's wholly-owned subsidiary Jubilant Pharma Limited today announced that its subsidiary Jubilant Pharma Holdings Inc (JPHI) has entered in an agreement with Standard Chartered Bank for a five-year loan facility for repayment of existing term loan and bonds aggregating USD 350 million and additional tranche of USD 50 million for future growth capex," the company said.