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Biocon Biologics secures 800 million USD bond to refinance long term debt
Biocon Biologics has successfully priced its debut USD 800 million senior secured notes due 2029 at a 6.67% coupon, marking a significant milestone as the first USD bond issuance by a biopharmaceutical company in the Asia Pacific. The transaction, which is expected to settle on October 9, 2024, aims to refinance existing long-term debt of USD 1.1 billion, enhancing the company's financial flexibility and supporting its growth in the biosimilars market. The bond issuance received robust interest, with an oversubscription of over 3x, reflecting strong investor confidence in Biocon Biologics' credit profile and growth potential.
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