Debt

Debt financing

SBI to pitch in with $1-B for Sun Pharma’s $12-B acquisition of US co. Organon

Economic Times  

State Bank of India (SBI) plans to contribute $1-B toward the $12-B acquisition of Organon & Co. by Sun Pharmaceutical Industries. SBI will join a group of global lenders, including Citigroup, JPMorgan Chase, and Mitsubishi UFJ Financial Group, to provide debt financing for the transaction.Following a regulatory update in February, Indian government-run banks are now permitted to finance such acquisitions, a practice that was previously restricted due to concerns regarding asset quality and regulatory compliance.