Transactions > Restructuring > Morepen Lab Ltd – Financial Restructuring INR 7500 mn

Restructuring

Morepen Lab Ltd, New Delhi, India

Client Profile: Morepen Laboratories is a fast growing pharmaceutical Company manufacturing high quality Generic drugs and Pharmaceutical formulations

Transaction Snapshot:

  • Developed CDR plan & led the proposal with the lead institutions
  • The CDR proposal entailed a business restructuring plan to settle the Company’s debt with 43 lender banks after induction of fresh capital from financial investors

Avista Advisory’s Role :

  • Avista was appointed as the exclusive financial advisor to help the Company restructure its debt. Avista evaluated client operations and recommended Corporate Debt Restructuring (CDR) as a solution and led the development of restructuring plan and implementation and negotiating with Banks and Institutions
  • Lenders were given an option to either take a One-time settlement (with a haircut) or opt for a restructuring with an extended repayment schedule
  • Out of total outstanding of INR 7,500 million
    • INR 2,120 million opted for restructuring with extended repayment schedule
    • INR 5,380 million opted for OTS (one time settlement)
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