Linklaters advises Biocon Biologics on its maiden US$800m bond issuance, the largest high yield debut US$ bond issuance from India in the past decade

Linklaters advised Biocon Biologics Global plc, a wholly owned subsidiary of Biocon Biologics Limited (BBL), on its debut issuance of US$800m 6.67% senior secured notes due 2029. Biocon Limited, the parent company of BBL, is publicly traded on both the National Stock Exchange of India and the Bombay Stock Exchange Limited.

The issuance, which was three times oversubscribed, is the largest debut issuance from a high-yield rated issuer in India over the past decade and marks the first US$ bond issuance by a biopharmaceutical company in the Asia-Pacific region.

BBL is a fully integrated global biosimilars company with a demonstrated track record of success across the entire value chain from research and development to manufacturing and commercialization of biosimilars globally, with a footprint that spans over 120 countries.

The Linklaters team was led by partner and Head of India Practice Amit Singh, with support from counsel Xunming Lim and managing associate Calvin Soon.

Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions to maximise investment opportunities. The team supports international clients and leading Indian corporates as they invest both within and outside India across a wide range of sectors. The team have recently advised on the IPOs of Bajaj Finance Housing and Ola Electric Mobility and the recent qualified institutional placements for Sona BLW Precision Forgings Limited, Vedanta Limited and Samvardhana Motherson International Limited.

The firm has also acted on the substantial majority of India linked bond issuances for the last several years.