Jubilant Life Sciences settles IFC loan with over Rs 937 crore payout
Jubilant Pharma Ltd (JPL), a wholly-owned subsidiary of Jubilant Life Sciences, has redeemed a zero-coupon convertible loan with IFC based on mutual agreement. The payment has been made from the recent rated unsecured bonds of $200 million raised by JPL.
New Delhi: Drug firm Jubilant Life Sciences on Friday said its subsidiary has redeemed the outstanding loan of Washington-based International Finance Corporation (IFC) with a one-time settlement of $135 million (over Rs 900 crore).
Jubilant Pharma Ltd (JPL), a wholly-owned subsidiary of the company, has redeemed a zero-coupon convertible loan with IFC based on mutual agreement, Jubilant Life Sciences said in a regulatory filing.
“Accordingly, the obligation to provide an exit to IFC by equity conversion of the convertible loan has been cancelled,” it added.
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With the above payment of the convertible loan, all loans outstanding to IFC have been fully paid, the company said.
The payment has been made from the recent rated unsecured bonds of $200 million raised by JPL, it added.
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Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here
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