BeiGene secures $700m in new loan facilities

BeiGene Ltd. announced on November 19, 2025, that it has entered into a facilities agreement on November 13, 2025, securing senior secured financing totaling approximately $700 million. The financing includes a $140 million USD-denominated B1 revolving loan facility, a $560 million USD-denominated B2 term loan facility, and a Renminbi-denominated A term loan facility of approximately $300 million. The B Loan Facilities carry an uncommitted accordion feature, potentially increasing their aggregate size to $700 million, though BeiGene does not currently expect to utilize this feature.

The proceeds from these facilities will be used for general corporate purposes, including financing working capital requirements, refinancing existing offshore financial indebtedness, and covering fees and expenses related to the loans. The A Loan Facility matures 36 months after its first utilization date, while the B Loan Facilities mature 24 months after their first utilization date, unless extended. Interest rates are set at the Reference Rate (RMB) plus 0.65% per annum for the A Loan Facility and the Reference Rate (USD) plus 2.40% per annum for the B Loan Facilities.

The facilities agreement is backed by security interests in equity interests of a Group member and BeiGene's manufacturing and clinical R&D facility in New Jersey. All obligations are unconditionally guaranteed, jointly and severally, by the guarantors. The agreement also includes financial covenants such as maintaining a minimum cash interest coverage ratio of 5.00 to 1.00 and a net leverage ratio not greater than 2.50 to 1.00.