Sun Pharma Secures Rs 10,000 Crore for Organon Deal

Sun Pharmaceutical Industries is planning to raise Rs 10,000 crore through rupee-denominated bonds in two tranches to partially refinance bridge loans for its USD 11.75 billion acquisition of US-based healthcare firm Organon.

The initial Rs 7,000 crore tranche offers a coupon rate of 8.20%, attracting major institutional participants like SBI Pension Fund and ICICI Prudential Mutual Fund. This landmark corporate debt issue aims to streamline acquisition liabilities and support Sun Pharma's global financial strategy.

News by Rahul Yelligetti.