Chennai-based Orchid Chemicals & Pharmaceuticals has redeemed outstanding overseas securities worth $167.64 million (Rs. 820 crore)..The refinancing was done under the ECB route by a consortium of banks led by Axis Bank..Trilegal advised the consortium on Indian law with a team led by Partner Ameya Khandge along with Senior Associate Prantic Sen and Associates Pramit Mohanty and Prateek Jauhari..Allen & Overy acted as International legal advisor to the consortium..According to ET, the company had issued Foreign Currency Convertible Bonds (FCCBs) to certain overseas investors in February 2007 seeking funds for capacity expansion among other reasons, which were up for redemption by February 28, 2012. The outstanding FCCBs (including yield-to-maturity) were redeemed on the due date..Established in 1992 as an export-oriented unit (EOU), Orchid Chemicals is a vertically integrated company spanning the entire pharmaceutical value chain from discovery to delivery.
Chennai-based Orchid Chemicals & Pharmaceuticals has redeemed outstanding overseas securities worth $167.64 million (Rs. 820 crore)..The refinancing was done under the ECB route by a consortium of banks led by Axis Bank..Trilegal advised the consortium on Indian law with a team led by Partner Ameya Khandge along with Senior Associate Prantic Sen and Associates Pramit Mohanty and Prateek Jauhari..Allen & Overy acted as International legal advisor to the consortium..According to ET, the company had issued Foreign Currency Convertible Bonds (FCCBs) to certain overseas investors in February 2007 seeking funds for capacity expansion among other reasons, which were up for redemption by February 28, 2012. The outstanding FCCBs (including yield-to-maturity) were redeemed on the due date..Established in 1992 as an export-oriented unit (EOU), Orchid Chemicals is a vertically integrated company spanning the entire pharmaceutical value chain from discovery to delivery.
