Document ID: SEC-2022-1422-0001
Agency: sec
Document Type: Notice
Title: Application: Royalty Pharma plc and Royalty Pharma Finance Corp.
Posted Date: 2022-11-02T04:00Z

[Federal Register Volume 87, Number 211 (Wednesday, November 2, 2022)]
[Notices]
[Page 66214]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23788]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 34741; File No. 812-15386]

Royalty Pharma plc and Royalty Pharma Finance Corporation

October 27, 2022.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice.

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    Notice of an application under section 6(c) of the Investment 
Company Act of 1940 (``Act'') for an exemption from all provisions of 
the Act.

Summary of Application:  Applicants request an order that would permit 
Royalty Pharma Finance Corporation (``FinCo'') to issue and sell 
commercial paper, preferred stock and other debt securities to finance 
the operations of Royalty Pharma plc (``RP'') and its subsidiaries. 
Applicants state that FinCo would qualify for the exemption provided by 
rule 3a-5 under the Act but for the facts that: (i) FinCo may finance 
various subsidiaries of RP that are not ``companies controlled by'' RP 
within the meaning of rule 3a-5 due to their reliance on sections 
3(c)(5) or 3(c)(6) of the Act, (ii) FinCo is a direct subsidiary of 
Royalty Pharma Holdings Ltd., a wholly-owned subsidiary of RP, which 
would not be a ``company controlled by the parent company'' within the 
meaning of rule 3a-5 to the extent it relies on section 3(c)(6) of the 
Act, and (iii) FinCo's ``parent company'' for purposes of rule 3a-5 
would be RP, which would not be a ``parent company'' within the meaning 
of rule 3a-5 to the extent it relies on section 3(c)(6) of the Act.

Applicants:  Royalty Pharma plc and Royalty Pharma Finance Corporation.

Filing Date:  The application was filed on September 20, 2022.

Hearing or Notification of Hearing:  An order granting the requested 
relief will be issued unless the Commission orders a hearing. 
Interested persons may request a hearing on any application by emailing 
the SEC's Secretary at [email protected] and serving the 
Applicants with a copy of the request by email, if an email address is 
listed for the relevant Applicant below, or personally or by mail, if a 
physical address is listed for the relevant Applicant below. Hearing 
requests should be received by the Commission by 5:30 p.m. on November 
21, 2022, and should be accompanied by proof of service on applicants, 
in the form of an affidavit or, for lawyers, a certificate of service. 
Pursuant to rule 0-5 under the Act, hearing requests should state the 
nature of the writer's interest, any facts bearing upon the 
desirability of a hearing on the matter, the reason for the request, 
and the issues contested. Persons who wish to be notified of a hearing 
may request notification by emailing the Commission's Secretary at 
[email protected].

ADDRESSES: The Commission: [email protected]. Applicants: 
Gregory S. Rowland, [email protected].

FOR FURTHER INFORMATION CONTACT: Steven I. Amchan, Senior Counsel, or 
Lisa Reid Ragen, Branch Chief, at (202) 551-6825 (Division of 
Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: For Applicants' representations, legal 
analysis, and conditions, please refer to Applicants' application, 
dated September 20, 2022, which may be obtained via the Commission's 
website by searching for the file number at the top of this document, 
or for an Applicant using the Company name search field, on the SEC's 
EDGAR system. The SEC's EDGAR system may be searched at, at http://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You may also 
call the SEC's Public Reference Room at (202) 551-8090.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-23788 Filed 11-1-22; 8:45 am]
BILLING CODE 8011-01-P