New York, Dec. 3 - Sun Pharmaceutical Industries Ltd. said it priced a $75 million add-on to its zero-coupon convertible bonds, originally priced on Nov. 17 to yield 4.61% with a 50% initial conversion premium.
The size of the issue is now $350 million, up from the $225 million first priced on Nov. 17.
JPMorgan was bookrunner for the deal, with Jermyn Capital Partners plc as co-manager.
Sun Pharmaceutical is a Mumbai, India, pharmaceutical company.
| Issuer: | Sun Pharmaceutical Industries Ltd.
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| Issue: | Add-on to convertible bonds
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| Amount: | $75 million (total size now $350 million)
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| Maturity: | 5 years
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| Coupon: | 0%
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| Yield: | 4.61%
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| Initial conversion premium: | 50% (based on Nov. 17 stock price)
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| Bookrunner: | JPMorgan
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| Pricing date: | Dec. 2, after close
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