BeOne Medicines secures $1B senior secured financing facilities with HSBC-led syndicate

BeOne Medicines Ltd.

Facilities include $140M B1 revolver, $560M B2 term loan (USD), and ~$300M A term loan (RMB), totaling $1B.
B loan facilities mature 24 months from first draw; A loan matures 36 months. Interest margins: 2.40% (B loans), 0.65% (A loan).
Proceeds used for general corporate purposes including refinancing existing offshore indebtedness and working capital.
Covenants include minimum cash interest coverage 5.00x, net leverage ≤2.50x, minimum equity $2.7B, minimum cash $500M outside PRC.
Security includes pledges on equity interests and mortgage on New Jersey manufacturing/R&D facility.

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