BioMarin Announces Proposed Private Offering of Senior Notes and Syndication of New Senior Secured Term Loan Facility

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[{"type":"text","content":"SAN RAFAEL, Calif., Jan. 26, 2026 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) (\"BioMarin\") announced today that it intends to offer, subject to market and other conditions, $850 million of senior unsecured notes due 2034 (the \"Notes\").\n \n \n \n \n \n \n \nBioMarin also announced that, in connection with the pending acquisition (the \"Acquisition\") of Amicus Therapeutics, Inc. (\"Amicus\"), it launched the syndication of a new $2 billion senior secured term loan \"B\" facility (the \"Term Loan B Facility\"), which Term Loan B Facility is in addition to a $800 million senior secured term loan \"A\" facility (the \"Term Loan A Facility\" and, together with the Term Loan B Facility, the \"Term Facilities\"), and a $600 million senior secured revolving credit facility into which BioMarin expects to enter in connection with the Acquisition (the \"New Revolving Facility\" and, together with the Term Facilities, the \"New Senior Secured Credit Facilities\").BioMarin intends to use the net proceeds from the offering of the Notes, together with borrowings under the Term Facilities and cash on hand, to fund the consideration payable in connection with the Acquisition and related fees and expenses in connection with the Acquisition, the borrowings under the New Senior Secured Credit Facilities, and the issuance of the Notes. The company may also borrow up to $150 million under the New Revolving Facility to pay such fees and expenses.Gross proceeds from the issuance of the Notes will be deposited into an escrow account at the closing of the Offering, pending consummation of the Acquisition. In the event that the Acquisition is not completed on or prior to December 19, 2026, or upon the occurrence of certain other events, BioMarin will be required to redeem all of the Notes at a redemption price equal to 100% of the initial issue price of the Notes plus accrued and unpaid interest from the date of issuance, or the most recent date to which interest has been paid or provided for, to but excluding the special mandatory redemption date.The Notes will be jointly and severally guaranteed by certain of BioMarin's subsidiaries that will guarantee the obligations under the New Senior Secured Credit Facilities, including, after the closing of the Acquisition, Amicus and certain of its subsidiaries that will guarantee the obligat...

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