Torrent Pharmaceuticals Ltd., a prominent Indian drugmaker, is currently exploring the possibility of raising up to $3 billion from various global banks. The objective is to secure financing for acquiring a controlling stake in JB Chemicals & Pharmaceuticals Ltd. The primary target is KKR & Co.’s substantial 53.8% stake in JB.
To facilitate this acquisition, Torrent is weighing multiple financing options, including the issuance of dollar and local currency bonds. Discussions are underway with several lenders, notably Barclays Plc, Deutsche Bank AG, and Standard Chartered Plc, according to individuals who are privy to the ongoing negotiations but wish to remain anonymous as the talks are confidential.
For more details, the original report can be read on Bloomberg Law.