Wanbury Limited ("Wanbury"), a pharmaceutical company with a strong presence in the global API market and domestic branded formulations, has reached a key milestone in its financial strategy by successfully refinancing a portion of its outstanding Non-Convertible Debentures (NCDs).

The company has fully repurchased its 21% Secured Non-Convertible Debentures, originally issued in July 2023 through private placement, amounting to ?95 crores from NEO AIF and associates. This transaction was facilitated through the refinancing of ?175 crore under Tranche I from Emerging India Credit Opportunities Fund II, an associate of Investec Capital Services (India) Pvt. Ltd.

The refinancing comes at a significantly lower interest rate of 12.5% per annum, covering up to ?150 crore of existing debt—?90 crores from NEO AIF & Associates and ?60 crores from other lenders. The remaining amount will be allocated toward working capital and capital expenditures to support the company’s growth. The repayment tenure is set for five years, with an average maturity of 3.25 years and a nine-month moratorium period.

Commenting on the development, Mr. Mohan Rayana, Whole-time Director of Wanbury Ltd., stated, “We are pleased to announce the successful refinancing, reinforcing our commitment to financial stability and long-term growth. This strategic move reflects our focus on optimizing shareholder value and strengthening our financial foundation. The refinancing, in collaboration with Emerging India Credit Opportunities Fund II, has resulted in substantial interest cost savings, highlighting our consistent performance and revenue stability. We extend our sincere gratitude to our investors and team for their unwavering support and dedication throughout this process.”