Deals10 Oct 2024, 02:58 am
BIOCON LTD. Subsidiary Biocon Biologics Global Plc Raises US $800 Million via Senior Secured Notes
AI Summary
BIOCON LTD. announced that its subsidiary, Biocon Biologics Global Plc, has successfully raised US $800 million by allotting US dollar denominated senior secured notes. The notes, which have a tenure of 5 years and carry a 6.67% interest rate, were not offered or sold in India but were listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The notes are guaranteed by Biocon Biologics and secured by a pledge over certain shares held by Biocon Biologics in Biosimilars Newco. Limited. The offering was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- Biocon Biologics Global Plc raised US $800 million through senior secured notes
- The notes have a tenure of 5 years and carry a 6.67% interest rate
- The notes are guaranteed by Biocon Biologics and secured by a pledge over certain shares
- The notes were listed on the SGX-ST and were not offered or sold in India
- The offering was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015