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30-Sep2016

Jubilant Life Sciences' arm raises $300 million through bond issuance

Jubilant Pharma (JPL), a 100% subsidiary of Jubilant Life Sciences, has successfully raised $300 million through a sale of unsecured bonds. The bonds have been subscribed at the tight end of the final price guidance offering a yield of 4.875% to investors.  The net proceeds of the Notes shall be used to prepay the existing debts of JPL and its subsidiaries, for upstreaming up to $50 million to Jubilant Life Sciences for prepayment of its existing debts and for general corporate purposes. The company received bids over $1 billion. The bonds will be listed on Singapore Stock Exchange. The issuer (JPL) has been rated BB- by- Standard & Poor's Ratings Services (S&P) and Fitch Inc (Fitch) and the issue (the notes) has been rated BB- by S&P and BB by Fitch.

Jubilant Life Sciences is an integrated global Pharmaceutical and Life Sciences Company engaged in manufacture and supply of APIs, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products and Life Science Ingredients.


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