Glenmark Pharmaceuticals Limited has issued foreign currency convertible bonds (FCCBs) aggregating to Rs. 1,149 crore ($170 million)..The company has an option to increase the offer size by another 200 crore within 30 days of closing..Trilegal advised Glenmark on the issuance of the bonds. The team was led by Partner Srinivas Parthasarathy and also included Senior Associate Ridhesh Vora and Associates Albin George Thomas, Abhipsita Kundu and Ronak Talati..Allen & Overy acted as international legal counsel to JP Morgan, which was the sole bookrunner in the transaction. The team comprised Partner Amit Singh, Senior Associate Michele Discepola and Associate Wen Chao Gao..Cyril Amarchand Mangaldas acted as domestic legal counsel for JP Morgan, through Partner Gaurav Gupte, Principal Associate Neena Krishna Kumar and Associates Rasika Kulkarni and Sweta Ananthanarayanan..This transaction makes Glenmark the first company in India to issue foreign currency convertible bonds using the Resettable Onward Starting Equity-linked Securities pricing mechanism.
Glenmark Pharmaceuticals Limited has issued foreign currency convertible bonds (FCCBs) aggregating to Rs. 1,149 crore ($170 million)..The company has an option to increase the offer size by another 200 crore within 30 days of closing..Trilegal advised Glenmark on the issuance of the bonds. The team was led by Partner Srinivas Parthasarathy and also included Senior Associate Ridhesh Vora and Associates Albin George Thomas, Abhipsita Kundu and Ronak Talati..Allen & Overy acted as international legal counsel to JP Morgan, which was the sole bookrunner in the transaction. The team comprised Partner Amit Singh, Senior Associate Michele Discepola and Associate Wen Chao Gao..Cyril Amarchand Mangaldas acted as domestic legal counsel for JP Morgan, through Partner Gaurav Gupte, Principal Associate Neena Krishna Kumar and Associates Rasika Kulkarni and Sweta Ananthanarayanan..This transaction makes Glenmark the first company in India to issue foreign currency convertible bonds using the Resettable Onward Starting Equity-linked Securities pricing mechanism.
