Teva Pharmaceutical Industries announced that its wholly-owned finance subsidiaries have issued a total of €1.5 billion and $3.2 billion in new senior notes. The net proceeds are intended to fund the redemption of several series of existing notes, pay related fees and expenses, and for general corporate purposes, including the repayment of other outstanding debt.
Key Details
- New Debt Issuance: The offering consists of five tranches: €1.0B of 4.250% notes due 2033, €0.5B of 4.625% notes due 2036, $1.2B of 5.250% notes due 2032, $1.0B of 5.500% notes due 2034, and $1.0B of 5.750% notes due 2037.
- Use of Proceeds: The primary purpose is to refinance existing debt by funding the redemption of multiple series of outstanding senior notes with maturity dates ranging from 2027 to 2031.
- Guarantees: All newly issued notes are senior unsecured obligations of the respective issuers and are guaranteed on a senior unsecured basis by Teva Pharmaceutical Industries Limited.