TEL AVIV, Israel, May 19, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) ("Teva") announced today that it has commenced tender offers (the "Offers") to purchase for cash for a combined aggregate purchase price (exclusive of accrued and unpaid interest) of up to $2,000,000,000 (equivalent) (the "Total Maximum Amount") of the following series of notes issued by finance subsidiaries of Teva and guaranteed by Teva:

   -- USD 3.150% Senior Notes due 2026, CUSIP 88167AAE1 / ISIN US88167AAE10 
      (Registered), issued by Teva Pharmaceutical Finance Netherlands III B.V. 
      (the "Pool 1 Notes"); 
 
   -- USD 4.750% Sustainability-Linked Senior Notes due 2027, CUSIP 88167AAP6 / 
      ISIN US88167AAP66 (Registered), issued by Teva Pharmaceutical Finance 
      Netherlands III B.V. (the "Priority 2 Notes"); 
 
   -- EUR 3.750% Sustainability-Linked Senior Notes due 2027, Common Code 
      240660709 / ISIN XS2406607098 (Registered), issued by Teva Pharmaceutical 
      Finance Netherlands II B.V. (the "Priority 3 Notes" and together with the 
      Priority 2 Notes, the "Pool 2 Notes"); 
 
   -- USD 7.875% Sustainability-Linked Senior Notes due 2029, CUSIP 88167AAS0 / 
      ISIN US88167AAS06 (Registered), issued by Teva Pharmaceutical Finance 
      Netherlands III B.V. (the "Priority 4 Notes"); 
 
   -- EUR 7.375% Sustainability-Linked Senior Notes due 2029, Common Code 
      259280443 / ISIN XS2592804434 (Registered), issued by Teva Pharmaceutical 
      Finance Netherlands II B.V. (the "Priority 5 Notes"); and 
 
   -- USD 8.125% Sustainability-Linked Senior Notes due 2031, CUSIP 88167AAR2 / 
      ISIN US88167AAR23 (Registered), issued by Teva Pharmaceutical Finance 
      Netherlands III B.V. (the "Priority 6 Notes," and together with the 
      Priority 4 Notes and the Priority 5 Notes, the "Pool 3 Notes," and the 
      Pool 3 Notes, together with the Pool 1 Notes and the Pool 2 Notes, the 
      "Notes"). 

Teva is engaging in the Offers to proactively manage and optimize its debt capital structure, and to extend the maturity profile of its debt. Teva expects to fund the Offers with the proceeds from the Financing Transaction (as defined below), together with cash on hand.

The Offers are being made pursuant and are subject to the terms and conditions set forth in the Offer to Purchase, dated May 19, 2025 (the "Offer to Purchase"), available via the offer website: https://clients.dfkingltd.com/teva (the "Offer Website"), including a condition to the Offers of the completion by Teva Pharmaceutical Finance Netherlands II B.V., Teva Pharmaceutical Finance Netherlands III B.V. and Teva Pharmaceutical Finance Netherlands IV B.V. of an offering of debt securities that commenced concurrently with the Offers, with minimum gross proceeds acceptable to Teva to fund the aggregate purchase price for Notes to be purchased pursuant to the Offers, on terms and subject to conditions reasonably satisfactory to Teva (the "Financing Transaction"). Below is a summary of certain terms of the Offers:

(Dollars or Euros per $1,000 or EUR1,000, as applicable, principal amount)

 
                                                                                                                                                        Reference 
                                                                                          Pool Tender Caps                   Authorized                Security or   Bloomberg 
Capped                                                                                    (Purchase Price    Acceptance    Denominations      First    Interpolated  Reference    Fixed Spread     Tender Offer    Early        Total 
Tender                                        CUSIP / ISIN / Common    Principal Amount  (excluding Accrued   Priority       (principal      Par Call    Mid-Swap     Page /         (basis        Consideration   Tender   Consideration 
Offers    Title of Notes       Issuer                 Code               Outstanding       Interest))(1)      Level(2)        amount)          Date        Rate       Screen       points)(5)         (3)(4)      Premium      (3)(6) 
-------  ----------------  ---------------  -------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                                Teva 
                            Pharmaceutical                                                                                       $2,000 and 
Pool 1                         Finance                                                                                   integral multiples 
 Tender   3.150% Senior      Netherlands           88167AAE1 /                                                                 of $1,000 in 
 Offers   Notes due 2026       III B.V.      US88167AAE10(Registered)    $3,377,644,000      $1,550,000,000           1      excess thereof       N/A           N/A        N/A                N/A        $931.50    $50.00        $981.50 
-------  ----------------  ---------------  -------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                                Teva 
              4.750%        Pharmaceutical                                                                                     $200,000 and 
Pool 2    Sustainability-      Finance                                                                                   integral multiples 
 Tender    Linked Senior     Netherlands           88167AAP6 /                                 $250,000,000                    of $1,000 in  February 
 Offers   Notes due 2027       III B.V.      US88167AAP66(Registered)    $1,000,000,000        (equivalent)           2      excess thereof   9, 2027           N/A        N/A                N/A        $947.50    $50.00        $997.50 
-------  ----------------  ---------------  -------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                        Teva 
      3.750%        Pharmaceutical                                                                                           EUR100,000 and 
  Sustainability-      Finance                                                                                           integral multiples 
   Linked Senior    Netherlands II      XS2406607098 / 240660709                                                             of EUR1,000 in  February 
  Notes due 2027         B.V.                  (Registered)            EUR1,100,000,000                               3      excess thereof   9, 2027           N/A        N/A                N/A      EUR963.50  EUR50.00    EUR1,013.50 
 ----------------  ---------------  ---------------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                                Teva 
              7.875%        Pharmaceutical                                                                                     $200,000 and             3.875% U.S. 
Pool 3    Sustainability-      Finance                                                                                   integral multiples            Treasury due 
 Tender    Linked Senior     Netherlands    88167AAS0 / US88167AAS06                           $200,000,000                    of $1,000 in  June 15,     April 30, 
 Offers   Notes due 2029       III B.V.            (Registered)            $600,000,000        (equivalent)           4      excess thereof      2029          2030       FIT1               +135   See Note (4)    $50.00   See Note (5) 
-------  ----------------  ---------------  -------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                                Teva                                                                                                                      2029 Euro 
              7.375%       Pharmaceutical                                                                                    EUR100,000 and                   Notes 
         Sustainability-       Finance                                                                                   integral multiples            Interpolated       IRSB 
          Linked Senior    Netherlands II   XS2592804434 / 259280443                                                         of EUR1,000 in  June 15,      Mid-Swap     EU<GO> 
          Notes due 2029        B.V.               (Registered)          EUR800,000,000                               5      excess thereof      2029          Rate        (7)               +150   See Note (4)  EUR50.00   See Note (5) 
-------  ----------------  ---------------  -------------------------  ----------------  ------------------  ----------  ------------------  --------  ------------  ---------  -----------------  -------------  --------  ------------- 
                        Teva 
      8.125%        Pharmaceutical                                                                                             $200,000 and             3.875% U.S. 
  Sustainability-      Finance                                                                                           integral multiples            Treasury due 
   Linked Senior     Netherlands        88167AAR2 / US88167AAR23                                                               of $1,000 in  June 15,     April 30, 
  Notes due 2031       III B.V.                (Registered)                $500,000,000                               6      excess thereof      2031          2030       FIT1               +155   See Note (4)    $50.00   See Note (5) 

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