Latham Advises on Biocon Biologics’ US$800 Million Senior Notes Offering
Latham & Watkins has advised the lead managers on the offering of US$800 million 6.67% senior secured notes due 2029 by Biocon Biologics Global plc, a wholly owned subsidiary of Biocon Biologics Limited (BBL). Biocon Limited, the parent entity of BBL, is publicly listed on the National Stock Exchange of India and the Bombay Stock Exchange Limited. The bonds will be listed on the Singapore Stock Exchange.
The transaction represents the first US$ bond issuance by a biopharmaceutical company in Asia-Pacific, and the largest debut issuance from a high yield rated issuer from India in the past 10 years.
The Latham team was led by Singapore corporate partner Rajiv Gupta, with counsel Jeremy Wang and Foreign Legal Consultant Margarita del Rosario. Advice was provided on US tax matters by New York partner Jiyeon Lee-Lim with associate Claire Park;* and on sanctions/OFAC matters by Washington, D.C. counsel Andrew Galdes with London associate Thomas Lane.
ABOUT BIOCON BIOLOGICS LIMITED
Biocon Biologics Limited (BBL), a subsidiary of Biocon Limited, is a unique, fully integrated, global biosimilars company committed to transforming healthcare and transforming lives. It is capitalizing on its ‘lab to market’ capabilities to serve millions of patients across 120+ countries by enabling affordable access to high quality biosimilars.
ABOUT LATHAM’S INDIA PRACTICE
With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi award-winning practice comprises more than 50 lawyers globally, and the team has advised on India-related matters with a combined value in excess of US$100 billion since 2018.
*Admitted to practice in Massachusetts only.