Teva Announces Successful Pricing of $4.9 billion (Equivalent) Senior Notes
Teva successfully priced approximately $4.9 billion equivalent of senior notes across five tranches, with coupons ranging from 4.250% to 5.750% and maturities spanning 2032 to 2037. Proceeds, together with cash on hand, will fund conditional redemptions of higher-coupon outstanding debt — including all 6.750% notes due 2028 and sustainability-linked series carrying coupons up to 8.125% — plus fees and general corporate purposes. The new notes are unsecured senior obligations of Teva's Netherlands finance subsidiaries, unconditionally guaranteed by Teva, with settlement expected on or about September 16, 2026; BNP Paribas, Citigroup, Goldman Sachs and J.P. Morgan are on the deal.
Key figures
- Tranches
- ["€1,000,000,000 4.250% EUR Senior Notes due 2033","€500,000,000 4.625% EUR Senior Notes due 2036","$1,000,000,000 5.500% USD Senior Notes due 2034","$1,000,000,000 5.750% USD Senior Notes due 2037","$1,200,000,000 5.250% USD Senior Notes due 2032"]
- Coupon range
- 4.250%-5.750%
- Settlement date
- on or about September 16, 2026
- Redemption targets
- ["all 6.750% Senior Notes due 2028","all 7.875% Sustainability-Linked Senior Notes due 2029","all 7.375% Sustainability-Linked Senior Notes due 2029","up to $450,000,000 of 4.750% Sustainability-Linked Senior Notes due 2027","€1,150,000,000 (reduced from up to €1,250,000,000) of 4.375% Sustainability-Linked Senior Notes due 2030","all 8.125% USD Sustainability-Linked Senior Notes due 2031 (notice expected September 10, 2026)"]
- Offering size verbatim
- approximately $4.9 billion (equivalent)
- Offering size usd approx
- 4900000000
AI analysis
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