Elder Pharmaceuticals plans to raise Rs 105 crore through seven-year bonds

Elder Pharmaceuticals, one of the fastest growing pharmaceutical companies in India, is planning to raise Rs 105 crore through seven-year bonds at 11.25%. The bond features repayments in 10 equal semi-annual installments commencing two years after the issue date.

Meanwhile, proceeds from the secured non-convertible debenture issue will refinance existing higher cost debt. Almondz Global Securities is the sole arranger of the deal.

Elder Pharmaceutical is engaged in the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. It holds market leader position in three therapeutic segments - Women’s Healthcare, Wound Care and Nutraceuticals.