Gujarat Themis taps private credit to fund JPY21.5bn MicroBiopharm acquisition
Indian pharmaceutical company Gujarat Themis Biosyn has secured private credit financing to support its JPY21.5bn ($135m) acquisition of Japanese drugmaker MicroBiopharm Japan, according to a report by Bloomberg.
Gujarat Themis Biosyn, an Indian pharmaceutical firm, secured private credit to help finance its acquisition of Japanese drugmaker MicroBiopharm Japan for JPY21.5bn ($135m), according to a Bloomberg report. The funding comes from Orion Capital Asia, a private credit manager in Asia, which provided JPY9.2bn ($58m). Gujarat Themis announced the purchase in May.
The Indian company also raised INR5.85bn ($61m) through a private debt placement, which will be used to fund the acquisition and other corporate purposes. Avendus Capital, an Indian private credit manager, and Edelweiss Alternatives were among the participants in the rupee-denominated debt financing, with Avendus being the lead investor.
A spokesperson for Gujarat Themis was unavailable for comment, while Orion declined to comment on the matter.
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