Teva Pharmaceutical Prices Upsized $2.3 Billion Notes Offering

MT Newswires Live
05/21

Teva Pharmaceutical Industries (TEVA) said Tuesday it priced its $2.3 billion senior notes offering, upsized from the previously announced $2 billion.

The offering consists Teva Pharmaceutical Finance Netherlands II's 1 billion euros ($1.13 billion) aggregate principal amount of 4.125% euro-denominated senior notes due 2031; Teva Pharmaceutical Finance Netherlands III's $500 million aggregate principal amount of 6% USD-denominated senior notes due 2032; and Teva Pharmaceutical Finance Netherlands IV's $700 million aggregate principal amount of 5.75% USD-denominated senior notes due 2030.

Teva said it will use the proceeds to fund cash tender offers for certain notes maturing in 2026, 2027, 2029, and 2031, and to repay outstanding debt.

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