Sun Pharma plans $1 billion local debt sale for loan takeout, sources say

Sun Pharma is planning to raise about Rs 10,000 crore through rupee-denominated bonds to partly refinance a bridge loan used for its Organon acquisition, according to Reuters. The drugmaker is expected to issue two-, three- and four-year bonds as Indian companies increasingly turn to domestic debt amid high US borrowing costs and expectations of an RBI rate hike.

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