India's Sun Pharma plans $1 billion local debt sale for loan takeout
Sun Pharmaceutical pursued an acquisition with Sept 29 in focus.
· BS Companies, NDTV Profit, LiveMint Companies
MUMBAI, Sept 29 (Reuters) - India's Sun Pharmaceutical Industries is planning to raise around 100 billion rupees ($1.04 billion) via a upee-denominated debt sale to partly fund a bridge loan it took to acquire US healthcare firm Organon & Co., three sources said on Tuesday.
Key facts
- Dates in focus
- Sept 29
The analysis
Against that, the stock is -1.8% on the day at ₹1,749.30, and has returned -7.2% over three months. It sits 13% below its 52-week high. The pharma & healthcare sector has moved +0.1% over the same period, so Sun Pharmaceutical is running 7.3 points behind its peers.
For Sun Pharmaceutical, the question is how much of this is already reflected in the price and how much re-rates the pharma & healthcare peer set alongside it.
Market context
- The company directly in focus is SUNPHARMA.
- Sector exposure: Pharma & Healthcare.
In this story
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