UPL said the company has completed the pre-payment of US$410 million of 3.25% Senior Notes due October 2021.
The pre-payment, which concluded on 28 December 2020, was done using the cash on its balance sheet, UPL said.
This prepayment is in line with its commitment to reduce debt.
UPL is committed towards deleveraging its balance sheet at the back of strong business prospects and agriculture commodity prices, and favourable agronomic conditions, the company said.
The company, according to an earlier filing on the stock exchange, had announced redemption of these notes on Dec. 1, 2020, in light of the “strong performance in the first half and business prospects of the second half”.
An investor presentation released on Oct. 30 showed that UPL had a gross debt of Rs 31,817 crore ($4.35 billion).