# 貸方正在探索多種融資選項，以支持 Sun Pharmaceutical Industries 擬以 120 億美元收購 Organon & Co。

*biotech · news · 2026-05-06 · The Economic Times*

## Key points

- Sun Pharma 正考慮進行債券持有人交換，將 Organon 債券持有人轉換為 Sun Pharma 債務。
- 正在討論發行信用評等高於 Organon 的歐元計價債券以籌資。
- Sun Pharma 計劃透過離岸貸款籌集 30 億至 40 億美元，用於收購 Organon。
- 擬議的融資可能取代 Sun Pharma 先前尋求的過橋貸款。
- 預計此 120 億美元收購案將於 12 月獲得交易批准。

Synopsis Global lenders are exploring various financing options for Sun Pharmaceutical Industries' proposed $12 billion acquisition of Organon & Co. The Indian drugmaker is considering swapping Organon bondholders into Sun Pharma debt and a potential euro-denominated bond. Additionally, Sun Pharma plans to raise $3 billion to $4 billion in offshore loans, with deal approvals anticipated by December. Loading... × Global lenders to Sun Pharmaceutical Industries Ltd. are weighing multiple financing options for its proposed $12 billion acquisition of New York-listed healthcare company Organon & Co., according to people familiar with the matter. The Indian drugmaker is considering seeking consent from Organon bondholders to swap their holdings into Sun Pharma debt, the people said, asking not to be identified discussing private matters. It is also working on a potential euro-denominated bond that could carry a credit rating one to two notches higher than the one assigned to Organon before the proposed merger, they added. Also read: Sun Pharma to acquire Organon for $11.75 billion in India’s biggest pharma deal Separately, the company is planning to raise as much as $3 billion to $4 billion in offshore loans, the people said, adding that the deal is expected to get necessary approvals by December. The final funding could be a combination of all options, they said. The discussions highlight the scale of the deal, which would rank among the largest outbound acquisitions by an Indian drugmaker and aims to secure funding while preserving Sun Pharma’s credit profile. The latest funding proposal may replace an earlier bridge loan facility that Sun Pharma was seeking, the people said. At least three banks — Mitsubishi UFJ Financial Group Inc., JPMorgan Chase & Co. and Citigroup Inc. — had committed to provide initial funding through a bridge facility, the people said. Live Events Also read: ET Exclusive | Sun Pharma set to acquire Organon for $12.5 bn, its biggest till date “Currently, three banks including Citi have underwritten the acquisition facility and will work with Sun extensively over next few months on multiple aspects and milestones of the acquisition including finalizing the long-term capital structure,” K Balasubramanian, CEO of Citi India and banking head of Indian subcontinent, said. Sun Pharma, JPMorgan and MUFG did not immediately reply to Bloomberg’s e-mailed queries seeking comments. In a presentation last month, Sun Pharma said it would use $2 billion to $2.5 billion from its cash reserves to help fund the acquisition. (You can now subscribe to our Economic Times WhatsApp channel)

**Companies:** JPMorgan Chase & Co., Citigroup Inc., Mitsubishi UFJ Financial Group Inc., Sun Pharmaceutical Industries Ltd., Organon & Co.
**Countries:** India, United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/sun-pharma-explores-funding-mix-for-12-billion-organon-deal/articleshow/130841915.cms)

---

Canonical: https://newsio.io/zh-TW/n/dccf6790-9e3b-49dd-90c5-46717c559db4/sun-pharmaceutical-industries-120-organon-co-organon-sun-pharma
Summarized by Newsio from The Economic Times. https://newsio.io/how-it-works