Sun Pharma accepts bids worth ₹7,816 crore for two five-year bonds

Sun Pharma has accepted bids worth ₹7,816 crore for two bond tranches maturing in five years and one day, offering annual coupons of 8.05% and 8.20%, merchant bankers said.

India's Sun Pharma has accepted bids worth an aggregate of ₹7,816 crore ($824.04 million) for two tranches of bonds maturing in five years and one day, three merchant bankers said on Thursday.

 

The company will pay annual coupon rates of 8.05% and 8.20% on the two tranches, respectively, the bankers said.

 

The 8.05% tranche has a put option, which allows investors to demand repayment after 17 months, they added.

 

The company had invited bids from bankers and investors earlier in the day and did not respond to a Reuters email seeking comment.

 

Here is the list of deals reported so far on October 22:

 

Sun Pharma: Five years and one day; coupon rate of 8.05%; issue size of ₹2,003 crore; bidding date October 22; rated AAA (Crisil, Icra).

 

Sun Pharma: Five years and one day; coupon rate of 8.20%; issue size of ₹5,813 crore; bidding date October 22; rated AAA (Crisil, Icra).

 

Sundaram Finance: Four years; yield of 8.53%; issue size of ₹1,000 crore plus ₹250 crore greenshoe option; bidding date October 23; rated AAA (Crisil).

 

Issue sizes include base amounts and greenshoe options for some issues.