The five-year deal, which was jointly arranged by Citigroup, Deutsche Bank, Morgan Stanley and UBS, is the second largest CB out of India after HDFCÆs $500 million bond last year and the largest ever from an Indian pharma company.
Ranbaxy is IndiaÆs largest pharmaceutical company and ranks among the top 10 producers of generic medicines worldwide, according to its Web site.
The zero-coupon bond was launched after the Indian stock market closed on Wednesday February 15 and initially proved a tough sell. Typically, over...
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