Glenmark Pharmaceuticals gains on raising sustainability-linked loan of $228 million
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Glenmark Pharmaceuticals is currently trading at Rs. 456.05, up by 5.95 points or 1.32% from its previous closing of Rs. 450.10 on the BSE.
The scrip opened at Rs. 453.00 and has touched a high and low of Rs. 461.00 and Rs. 453.00 respectively. So far 40563 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 690.60 on 19-Jul-2021 and a 52 week low of Rs. 415.60 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 466.15 and Rs. 442.55 respectively. The current market cap of the company is Rs. 12928.94 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 35.04% and 18.31% respectively.
Glenmark Pharmaceuticals has raised $228 million in sustainability-linked loan (SLL) from a consortium of foreign lenders, led by Bank of America. The five-year loan is priced at 175 basis points (bps) over the London interbank offered rate, or Libor which is being replaced by the SOFR, or the secured overnight financing rate. The SOFR is the benchmark interest rate for dollar-denominated derivatives and loans that is replacing the scam-ridden Libor.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
