Glenmark Pharmaceuticals plans issue of USD denominated international bonds

Glenmark Pharmaceuticals has decided to tap into the International Bond market and is planning to rise around $200 mn by issuing USD denominated non-convertible unsecured bonds. The company has received the rating for the same from the leading credit agencies in the world i.e. S&P and Fitch. The net proceeds will be used for repaying the existing debt. These bonds are planned to be listed on the Singapore Stock Exchange in order to establish the Company's track record in the globally recognized bond market.

Glenmark Pharmaceuticals is a pharmaceutical company headquartered in Mumbai, India. It manufactures and markets generic formulation products and active pharmaceutical ingredients, both in the domestic and international markets.