Glenmark Pharmaceuticals informs about company updates

Glenmark Pharmaceuticals has informed that subsequent to the rating received by the leading credit agencies in the world i.e. S&P and Fitch, Glenmark Pharmaceuticals has decided to tap into the International Bond market and is planning to raise around $200 mn by issuing US dollar denominated non-convertible unsecured bonds. 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. This notice is being issued by the Company for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of the Company including the bond and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

The above information is a part of company’s filings submitted to BSE.