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Jubilant Life Sciences on Friday said that Jubilant Pharma Ltd, its material wholly-owned subsidiary, has fully redeemed the outstanding zero coupon convertible loan of International Finance Corporation (IFC), Washington, on a one-time settlement of $135 million. Accordingly, the obligation to provide an exit to IFC by equity conversion of the convertible loan has been cancelled. With the above payment, all loans outstanding to IFC have been fully paid, it said. The payment has been made from the recently-rated unsecured bonds of $200 million raised by JPL. Shares of Jubilant Life Sciences gained 1.47 per cent at ₹664.20 on the BSE.
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