TT&A advised Barclays Bank PLC, and Deutsche Bank AG, Mumbai Branch, as arrangers in connection with the issuance of INR denominated redeemable, listed, rated, secured, non-convertible debentures of amount aggregating up to INR 50,000,000,000, in three series, and INR listed, rated, transferable, rupee denominated commercial paper of amount aggregating up to INR 50,000,000,000, in three series, by Mankind Pharma Limited, to partly fund the acquisition of Bharat Serums and Vaccines Limited.

This deal involved acquisition being funded through debt raised by way of issuance of non-convertible debentures listed on the BSE and a money market instrument, i.e., commercial paper, each in three series.

This strategic move marks a significant leap for Mankind, positioning it as a market leader in the Indian women’s health and fertility drug market alongside access to other high entry barrier products in critical care segment with established complex R&D tech platforms, the drug maker said in a statement.

TT&A Team: Sonali Mahapatra & Nidhi Rani – Partners; Aman Golechha & Swetha Vadarevu – Managing Associates and Rajeev Dadhich – Associate