Jubilant Pharma arm to raise USD 400 million loan from Standard Chartered Bank to repay debt

New Delhi: Jubilant Pharma Holdings on Wednesday stated it has signed an settlement with Normal Chartered Financial institution for a five-year mortgage of USD 400 million, about Rs 3,186 crore. Nearly all of the quantity shall be used for compensation of present time period mortgage and debt bonds, the corporate stated in a regulatory submitting.

Whereas the time period mortgage and bonds combination to USD 350 million, about Rs 2,787 crore, the corporate is elevating one other tranche of USD 50 million (about Rs 400 crore) for capital expenditure.

“Jubilant Pharmova Restricted’s wholly-owned subsidiary Pharma Restricted immediately introduced that its subsidiary Jubilant Pharma Holdings Inc (JPHI) has entered in an settlement with Normal Chartered Financial institution for a five-year mortgage facility for compensation of present time period mortgage and bonds aggregating USD 350 million and extra tranche of USD 50 million for future development capex,” the corporate stated.