Sun Pharma is lining up a massive $4 billion loan from a group of five big banks, including Citibank and DBS, to help pay for its $11.75 billion purchase of Organon & Co.
Each bank is chipping in about $800 million, making this one of the bigger pharma deals we've seen lately.
Sun Pharma loan tied to SOFR
The five-year loan comes with interest rates tied to SOFR (currently around 3.9%), plus a bit extra.
Sun Pharma isn't stopping there. They recently raised ₹7,816 crore through non-convertible debentures and are open to more funding options if needed.
The Organon deal has shareholder approval and should wrap up by early 2027, pending regulatory green lights.