Surya Pharmaceutical to weigh issuing convertible bonds at meeting

By Devika Patel

Knoxville, Tenn., May 18 - Surya Pharmaceutical Ltd. informed the Bombay Stock Exchange that it will consider plans to issue foreign currency convertible bonds at a board of directors meeting on May 27.

The company also is considering issuing Global Depositary Receipts and American Depositary Receipts.

Proceeds will be used to finance green field projects, brown field projects, acquisitions and to augment working capital requirements.

Based in Chandigarh, India, Surya is a pharmaceutical company focused on the development of antibiotic drugs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.