HSBC Banks Bond Sales for Persistent and Jubilant Pharmova
1 report, 1 independent
Updated May 11
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What happened
HSBC acted as a banker for bond sales and fundraising for Persistent and Jubilant Pharmova. The companies raised ₹1,500 crore each in two- and three-year tenures, and nearly ₹2,000 crore each through four- and five-year bonds. The total order book for the Non-Convertible Debentures was more than two times the collected demand, which was about ₹15,000 crore.
From indiatimes.com
Why it matters
The funds raised are part of the financing for an acquisition announced by the companies in June. All Non-Convertible Debentures were issued at a coupon of 8.95%, attracting investment from top mutual funds, NBFCs, and insurance companies.
From indiatimes.com
Who's involved
- HSBCActed as a banker for the bond sales and fundraising for the companies.