Biocon Biologics refinances $1.1B debt through $800M bond issuance and syndicated facility for long-term growth.

Biocon Biologics has refinanced $1.1 billion in long-term debt through a new $800 million bond issuance and a syndicated facility. This move aims to enhance financial flexibility and support long-term growth, allowing for reinvestment in its biosimilar pipeline. The bonds, set to mature in 2029 with a 6.67% coupon, are rated BB by S&P and Fitch and will be listed on the Singapore Stock Exchange. The transaction is expected to close on October 9, 2024.

October 03, 2024
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