Biocon arm refinances $1.1 bn debt
Business Standard|October 04, 2024
Biocon Biologics, a subsidiary of Biocon, on Thursday said it had refinanced $1.1 billion (₹9,300 crore) long-term debt through US dollar bonds and new syndicated facility which includes $800 million (₹6,600 crore) senior secured notes due 2029 at a coupon of 6.67 per cent.
SOHINI DAS & ANEEKA CHATTERJEE

Biocon Biologics (BBL) has a debt of $1.2 billion to fund the acquisition of Viatris' biosimilars business.

Speaking to Business Standard, Kedar Upadhye, CFO of Biocon Biologics said the company now has access to the international capital market and this provides them with a lot of financial flexibility. "It improves our liquidity, profile, and obviously a little bit of a savings in the interest rate as well," he said.

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