UPL Ltd's subsidiary to redeem US$ 410MM of senior notes

In light of the strong performance in the first half and business prospects of the second half driven by favorable agronomic conditions and strong agri-commodity prices, the group decided to redeem the Notes early, from the cash in hand and de-leverage the Balance Sheet.

Accordingly, UPL Corporation Limited (the Issuer), a subsidiary of UPL Limited, has issued notice to redeem U.S.$ 410MM aggregate principal amount outstanding of its U.S.$ 500MM 3.25% Senior Notes due in October 2021 (the "Notes"). The Notes will be redeemed on December 28, 2020 (the "Redemption Date") from its cash on hand. The redemption price will be determined on the third business day preceding the Redemption Date.

Shares of UPL Limited was last trading in BSE at Rs.433 as compared to the previous close of Rs. 417.5. The total number of shares traded during the day was 345908 in over 8108 trades.

The stock hit an intraday high of Rs. 434 and intraday low of 418. The net turnover during the day was Rs. 148418294.

Source : Equity Bulls

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