Teva Pharmaceutical Industries Limited TEVA announced today that it
successfully priced a debt offering by its special purpose finance
subsidiaries, consisting of two tranches:
* $700,000,000 of 2.250% fixed rate senior notes maturing in March 2020
issued by Teva Pharmaceutical Finance IV, LLC; and
* $1,300,000,000 of 2.950% fixed rate senior notes maturing in December 2022
issued by Teva Pharmaceutical Finance Company BV
The notes will be sold at a price of $999.55 and $998.02 per $1,000 principal
amount, respectively, and are rated A3 by Moody's Investor Services, A- by
Standard & Poor's and A- by Fitch Ratings. The notes will be guaranteed by
Teva Pharmaceutical Industries Limited.
Teva intends to use the net proceeds from this offering to repay the
approximately $700 million remaining outstanding under a term loan credit
facility due in 2013 and 2014 and redeem the $1 billion outstanding principal
amount of its 1.70% Senior Notes due November 2014 via a make-whole call. The
balance will be used to repay other indebtedness and/or for general corporate
purposes.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in