Teva Signs New $2.3 Billion Syndicated Revolving Credit Facility
JERUSALEM-(BUSINESS WIRE)-Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced today that it has entered into a new $2.3 billion unsecured revolving credit facility, which replaces its existing $3.0 billion credit facility.
“By signing this new revolving credit facility, with its extended and flexible terms, we took another step on our financial strategy and secured ample contingent liquidity to support Teva's financing needs in the coming years," stated Mike McClellan, Executive Vice President and Chief Financial Officer of Teva. “We achieved all goals we set to ourselves in this refinancing exercise, particularly optimizing the overall size of the facility, and we were very pleased to see the significant demand to commit, demonstrating the strong support from our existing relationship banks as well as from additional new banks.”
Bank of America, Merrill Lynch and HSBC Bank plc are Coordinating Bookrunners and Mandated Lead Arrangers for the facility. The syndicate also includes Barclays Bank PLC, BNP Paribas, Citibank N.A., Credit Suisse AG, Goldman Sachs Bank USA, JPMorgan Chase Bank N.A., Mizuho Bank LTD., Morgan Stanley Bank N.A., Morgan Stanley Senior Funding, INC., MUFG Bank LTD., Sumitomo Mitsui Banking Corporation and PNC Bank National Association as Bookrunners and Mandated Lead Arrangers, and Banca IMI as Lead Arranger.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global leader in generic medicines, with innovative treatments in select areas, including CNS, pain and respiratory. We deliver high-quality generic products and medicines in nearly every therapeutic area to address unmet patient needs. We have an established presence in generics, specialty, OTC and API, building on more than a century-old legacy, with a fully integrated R&D function, strong operational base and global infrastructure and scale. We strive to act in a socially and environmentally responsible way. Headquartered in Israel, with production and research facilities around the globe, we employ 45,000 professionals, committed to improving the lives of millions of patients. Learn more at www.tevapharm.com.
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