Firm Advises Teva on $750 Million Offering of Senior Notes

March 17, 2011

Teva Pharmaceutical Industries expects to use the net proceeds from the offering to repay certain indebtedness under its unsecured credit facilities.

On March 16, Willkie client Teva Pharmaceutical Industries Limited announced that it has successfully priced a $750 million offering of senior notes. The debt offering, placed through one of Teva’s special purpose finance subsidiaries, consists of two tranches: $500 million of LIBOR+0.500% floating rate senior notes maturing in March 2014 and $250 million of 1.700% fixed rate senior notes also maturing in March 2014. Teva expects to use the proceeds from this offering to repay certain indebtedness under its unsecured credit facilities. In 2010, the firm advised Teva on its $2.5 billion senior notes offering and on the antitrust and competition aspects of its $5 billion acquisition of ratiopharm. Headquartered in Israel, Teva is among the top 15 pharmaceutical companies in the world and is the leading generic pharmaceutical company. The company develops, manufactures and markets generic and innovative pharmaceuticals and active pharmaceutical ingredients. The current deal was handled by partners Peter Jakes, Cristopher Greer and Jeffrey Hochman, and associates Benjamin Thompson and Julia Schiesel.