Please find enclosed letter dated 28th May, 2025.
Awaiting price reaction for this filing.
UPL Limited has informed the exchanges that its wholly owned subsidiary, UPL Corporation Limited (Mauritius), has fully redeemed its USD 400 Million Perpetual Subordinated Capital Securities (Bonds). The redemption was completed on 28th May 2025 at the principal amount plus accrued interest (including any arrears of interest). This follows an earlier communication on 15th May 2025 about the planned redemption. Perpetual securities have no fixed maturity date, so this redemption is a voluntary deleveraging move.
This reduces UPL Group's hybrid/perpetual debt by USD 400 Million, which can improve leverage ratios and simplify the capital structure. For shareholders, it signals active balance sheet management, though the cash outflow may limit short-term deployment elsewhere.