Fitch Ratings has assigned India-based Glenmark Pharmaceuticals (Glenmark, BB/Positive) USD 200 million 4.50% senior unsecured notes due in 2021 a final rating of 'BB'.

The final rating is in line with the expected rating assigned on July 18, 2016, and follows the receipt of final documents conforming to information already received.

Glenmark will use the proceeds to repay debt at its wholly owned overseas subsidiaries. The notes represent direct, unconditional, unsecured and unsubordinated obligations of the company.

Shares of the company gained Rs 2.05, or 0.24%, to trade at  Rs 858.50.  The total volume of shares traded  was  5,557 at the BSE (12.07 p.m., Tuesday).