Teva Pharmaceutical Industries Ltd. completed its previously announced debt offering.
The Israeli generic-drug manufacturer issued $1.25 billion of 6% senior notes due 2024 and $1.25 billion of 6.75% senior notes due 2028, as well as €700 million of 3.25% senior notes due 2022 and €900 million of 4.50% senior notes due 2025.
Teva will use net proceeds to repay about $2.3 billion in outstanding U.S. dollar and Japanese yen term loans, as well as to fully redeem $1.5 billion of its 1.40% senior notes due 2018 and $1.2 billion of its 2.875% senior notes due 2019.
The USD and euro notes were issued by the company's units Teva Pharmaceutical Finance Netherlands III BV and Teva Pharmaceutical Finance Netherlands II BV, respectively.
The Bank of New York Mellon acted as trustee for the offering.
