Jubilant Life Sciences’ material wholly owned subsidiary -- Jubilant Pharma (JPL) has fully redeemed the outstanding zero coupon convertible loan of International Finance Corporation (IFC), Washington, on a one-time settlement of $135 million based on mutual agreement.
Accordingly, the obligation to provide an exit to IFC by equity conversion of the convertible loan has been cancelled. With the above payment of the convertible loan, all loans outstanding to IFC have been fully paid. The payment has been made from the recent rated unsecured bonds of $200 million raised by JPL.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in Pharmaceuticals, Life Science Ingredients and Drug Discovery Solutions.
