BioMarin Raises $850 Million Notes for Amicus Acquisition
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The latest update is out from BioMarin Pharmaceutical ( (BMRN) ).
On February 12, 2026, BioMarin Pharmaceutical Inc. closed a private offering of $850 million in 5.500% senior unsecured notes due 2034 at an issue price of 100%, with gross proceeds placed in escrow pending completion of its planned acquisition of Amicus Therapeutics. The notes are jointly and severally guaranteed by certain BioMarin subsidiaries, including Amicus and some of its subsidiaries once the deal closes, and are governed by an indenture that imposes customary covenants limiting additional debt, dividends, asset sales, and mergers.
BioMarin plans to combine the note proceeds with borrowings under new $2 billion term loan B and $800 million term loan A senior secured facilities, plus cash on hand, to fund the Amicus purchase price and related financing and transaction costs. The company also expects to establish a $600 million senior secured revolving credit facility, from which it may draw up to $150 million for fees and expenses, and it must redeem the notes at par plus accrued interest if the Amicus acquisition is not completed by December 19, 2026 or certain other events occur, underscoring that this sizable debt raise is tightly linked to the execution of its expansion strategy.
The most recent analyst rating on (BMRN) stock is a Buy with a $113.00 price target. To see the full list of analyst forecasts on BioMarin Pharmaceutical stock, see the BMRN Stock Forecast page.
Spark’s Take on BMRN Stock
According to Spark, TipRanks’ AI Analyst, BMRN is a Outperform.
The score is driven primarily by strong financial performance (profitability, margins, and cash flow) and supportive earnings-call updates (raised guidance and VOXZOGO momentum). Offsetting factors include only neutral technical signals, a not-cheap valuation without dividend support, and event risk from leverage tied to the Amicus acquisition plus pipeline pruning.
To see Spark’s full report on BMRN stock, click here.
More about BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc. is a global biotechnology company specializing in treatments for rare, genetically defined diseases. Founded in 1997 and based in San Rafael, Calif., the company markets eight commercial therapies and maintains a robust clinical and preclinical pipeline focused on developing category-defining genetic medicines.
Using a distinctive approach to drug discovery and development, BioMarin targets high-unmet-need patient populations and seeks to leverage advances in genetic science. Its portfolio strategy positions the company as a leading player in the rare disease segment, with a focus on long-term innovation and durable revenue streams from specialized therapies.
Average Trading Volume: 2,655,728
Technical Sentiment Signal: Sell
Current Market Cap: $11.46B
For detailed information about BMRN stock, go to TipRanks’ Stock Analysis page.
