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Teva Prices Offering of $2B in Senior Notes

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Teva Pharmaceutical Industries Limited (NYSE: 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.

Posted-In: News Offerings

 

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