Jubilant Pharma launches consent solicitation for 6% notes due 2024

Chicago, Aug. 16 – Jubilant Pharma Ltd. started a consent solicitation for its $200 million outstanding 6% senior notes due 2024 (ISIN: XS1958658509), according to a notice.

The company is seeking a waiver from compliance with certain provisions of the indenture governing the notes.

The waiver regards a proposed reorganization.

The company needs consents from noteholders representing a majority of the principal amount of notes voting as a single class.

A consent fee will be paid to holders who provide consents by 11 a.m. ET on Aug. 24.

A consent fee will not be paid if the company does not receive enough consents, if the general conditions are not satisfied and if other conditions in the consent solicitation statement are not satisfied.

It is expected the consent fee will be paid on Aug. 26.

The solicitation agents are DBS Bank Ltd. (+65 6225 6783, liabilitymanagement@dbs.com), J.P. Morgan Securities plc (+44 20 3493 0682, liability_management_asia@jpmorgan.com) and UBS AG Singapore Branch (+65 6495 8623, OL-LiabilityManagement-SEA@ubs.com).

The information and tabulation agent is Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, JubilantPharma@investor.morrowsodali.com, https://bonds.morrowsodali.com/jubilantpharma).

The issuer is a Singapore-based subsidiary of Indian pharmaceutical company Jubilant Life Sciences Ltd.

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