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BioMarin Completes Financing for Amicus Acquisition

On January 29, 2026, BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), headquartered in San Rafael, California, made significant financial moves to support its upcoming acquisition of Amicus Therapeutics, Inc. The company announced the pricing of an offering of $850 million in 5.500% senior unsecured notes due 2034, setting the issue price at 100%. This strategic offering is anticipated to close on February 12, 2026, contingent upon standard closing conditions being met.

Details of the Offering

BioMarin's announcement is part of a broader strategy to secure financing for the acquisition of Amicus Therapeutics. To this end, the company has also finalized a new senior secured term loan facility worth $2 billion. This facility, designated as Term Loan B, supplements an existing $800 million senior secured term loan—referred to as Term Loan A—and a $600 million senior secured revolving credit facility. Taken together, these new senior secured credit facilities will empower BioMarin to fulfill the financial obligations associated with the Amicus acquisition.

The net proceeds from the offering of the notes, in conjunction with the borrowings from both term loans, are expressly earmarked for covering the purchase price related to the Amicus acquisition, alongside any associated fees and expenses. Additionally, the company is considering borrowing up to $150 million from the new revolving credit facility to address these costs.

Conditions and Guarantees

BioMarin has underscored the importance of this offering by placing the gross proceeds from the notes into an escrow account that will remain liquid until the completion of the acquisition. Should the acquisition fail to finalize by December 19, 2026, or under specific circumstances, the company would need to redeem all the notes at 100% of their initial issue price plus any interest accrued to date.

The obligations of the issued notes will receive guarantees from specific subsidiaries of BioMarin. These guarantees will include coverage from Amicus and its subsidiaries following the completion of the acquisition.

Language of the Indenture

The indenture underpinning these notes contains conventional covenants that would restrict both BioMarin and its subsidiaries from engaging in certain financial activities without consent. These restrictions include incurring additional debt, distributing dividends, or transferring significant assets, ensuring that the company can maintain its financial integrity as it navigates this strategic acquisition.

Regulatory Compliance

It’s worth noting that the notes will not be registered under the Securities Act of 1933 or under state securities laws limiting their distribution to a selective group of accredited investors. These investors must either qualify as institutional buyers or meet regulations set for non-U.S. persons. As such, the offering is tailored to comply with legal frameworks ensuring investor protection.

About BioMarin

Founded in 1997, BioMarin Pharmaceuticals is a frontrunner in biotechnology, focusing on developing therapies for genetically defined conditions. With a portfolio of eight commercial products and a robust pipeline of clinical and preclinical candidates, BioMarin aims to leverage the power of genetic science to deliver transformative medicines.

Forward-Looking Statements

The company has also issued forward-looking statements regarding the proposed notes offering and the anticipated acquisitions. Potential investors are advised to be aware of the inherent risks associated with such endeavors, including the uncertainties linked to successful transaction completion. These factors will be detailed further in BioMarin's filings with the Securities and Exchange Commission, particularly in the