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

The majority of the amount will be used for repayment of the existing term loan and debt bonds

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

Jubilant PharmaStanChart Bank
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