SINGAPORE, Oct. 7, 2016 /PRNewswire/ --
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES
Jubilant Pharma Limited ("JPL" or "the Company"), a company incorporated under the laws of Singapore, a wholly owned subsidiary of Jubilant Life Sciences Limited (an entity listed on Indian stock exchanges), has announced that it has successfully completed a debut issuance, under Regulation S of the U.S. Securities Act of 1933, of its rated unsecured high yield bonds (the "Notes") bearing interest at 4.875% per annum. The Notes were issued at par in a principal amount of US$300 million and will mature in October 2021. JPL has been rated BB- by Standard & Poor's Ratings Services ("S&P") and Fitch Inc. ('Fitch") and the Notes have been rated BB- by S&P and BB by Fitch. The Notes will be listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited (the "SGX-ST").
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The net proceeds of the Notes shall be used (a) to prepay the existing debts of JPL and its subsidiaries; (b) for upstreaming up to US$50 million to Jubilant Life Sciences Limited (the "Parent Company", listed on the Indian Stock Exchange) for prepayment of its existing debts and (c) for general corporate purposes.
The Joint Lead Managers to the issue were Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Hong Kong) Limited, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited and J.P. Morgan (S.E.A.) Limited.
This announcement does not constitute or form a part of any offer to sell, offer to purchase, or a solicitation to sell or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction. The Notes have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act" ), or the securities laws of any state of the United States or any other jurisdiction. The Notes were only offered or sold outside the United States and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and the rules and regulations thereunder. No public offering of securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited. Any offer of such securities will be made by means of an offering document that will contain detailed information about the Company and its subsidiaries, the securities, as well as the financial statements. A rating is not a recommendation to buy, sell or hold the securities and may be subject to suspension, reduction or withdrawal at any time by the rating agency.
About Jubilant Pharma Limited
Jubilant Pharma Limited (JPL), a company incorporated under the laws of Singapore and a wholly owned subsidiary of Jubilant Life Sciences Limited, is an integrated global Pharmaceutical company engaged in manufacture and supply of APIs, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products and Contract Manufacturing of Sterile and Non Sterile products. JPL has world-class 6 USFDA approved manufacturing facilities in India, US and Canada and R&D centres in India and Canada. The Company has a team of over 3,200 multicultural people across the globe and is committed to deliver value to its customers spread across over 75 countries. It is well recognized as a 'Partner of Choice' by leading pharmaceutical companies globally. For more info: http://www.jubilantpharma.com.
