Jubilant Pharma issues rated unsecured high yield bonds for USD 300 mn
Jubilant Life Sciences announced that its subsidiary in Singapore, Jubilant Pharma has successfully completed the pricing of its rated unsecured high yield bonds (Notes) at a yield of 4.875% per annum issued at par for USD 300 million maturing in September 2021. The issuer has been rated BB- by Standard & Poor's Rating Service and Fitch and the issue has been rated BB- by S&P and BB by Fitch.The net proceeds of the Notes shall be used (a) to repay the existing debts of Jubilant Pharma and its subsidiaries; (b) for upstreaming upto USD 50 million to Jubilant Life Sciences for prepayment of its existing debts and (c) for general corporate purpose.
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