Biocon Biologics (BBL), a subsidiary of Biocon, today announced the successful pricing of Biocon Biologics' debut USD 800 million (Rs 6676.3 crore) senior secured Notes due 2029 at a coupon of 6.67%.

The Bonds will be issued by Biocon Biologics Global plc which is a wholly owned subsidiary of BBL and will be backed by a strong security package. The Bonds are expected to be rated BB by both S&P and Fitch and will be listed on the Singapore Stock Exchange. The transaction is expected to settle on October 09, 2024 subject to customary closing conditions.

Additionally, Biocon Biologics has entered into a commitment agreement for a new syndicated debt facility. The proceeds of the Bonds, together with the new syndicated debt facility being raised, will be used to substantially re-finance existing debt of USD 1.1 billion (Rs 9346.8 crore) which will help improve the Company's liquidity profile, provide financial flexibility and opportunity to re-invest the cash into the business.