UPL said the company has completed the pre-payment of US$410 million of 3.25% Senior Notes due October 2021.
The pre-payment, which concluded on 28 December 2020, was done using the cash on its balance sheet, UPL said. This prepayment is in line with its commitment to reduce debt. UPL is committed towards deleveraging its balance sheet at the back of strong business prospects and agriculture commodity prices, and favourable agronomic conditions, the company said.
The announcement was made after market hours yesterday, 29 December 2020. Shares of the UPL rose 0.2% to settle at Rs 454.75 yesterday.
UPL is a global provider of sustainable agriculture products & solutions. On a consolidated basis, the company posted a 166% jump in net profit to Rs 537 crore on a 14.35% rise in revenue from operations to Rs 8,939 crore in Q2 September 2020 over Q2 September 2019.
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