Jubilant Pharma arm to raise $400 million loan from StanChart Bank to repay debt

Jubilant Pharma Holdings recently said it has signed an agreement with Standard Chartered Bank for a five-year loan of $400 million, about Rs 3,186 crores. The majority of the amount will be used for repayment of the existing term loan and debt bonds, the company said in a regulatory filing.

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

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

Edits by EP News Bureau