Proceeds to be used for investment in overseas subsidiaries
Glenmark Pharmaceutical has successfully closed the pricing of its debut USD 200 million 5-year non-call 3 year senior unsecured notes offering at 4.5% per annum, due 2021 (the 2016 Notes).The proceeds from the issuance and sale of the Notes will be used for investment in Glenmark's wholly owned subsidiaries abroad and will subsequently be applied to repay existing debt at the subsidiary level.
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