Sun Pharma to Raise ₹10,000 Crore Bonds for Organon Deal
Sun Pharmaceutical Industries plans to raise ₹10,000 crore via two tranches of rupee-denominated bonds to partly finance its $11.75 billion acquisition of Organon. The first tranche will be ₹7,000 crore with an 8.20% coupon rate. Institutional investors such as SBI Pension Fund and ICICI Prudential Mutual Fund are expected to participate in the bond issue.
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