Global law firm White & Case LLP has advised Teva Pharmaceutical Industries Limited (Teva) on its offering of approximately US$4.9 billion of senior notes. Teva expects to use the net proceeds, together with cash on hand, to fund the redemptions of certain existing notes, pay fees and expenses, and for general corporate purposes.
The notes consist of five tranches: €1 billion aggregate principal amount of 4.250% senior notes due 2033, €500 million aggregate principal amount of 4.625% senior notes due 2036, US$1 billion aggregate principal amount of 5.500% senior notes due 2034, US$1 billion aggregate principal amount of 5.750% senior notes due 2037, and US$1.2 billion aggregate principal amount of 5.250% senior notes due 2032.
Further information is available here.
The White & Case team was led by partners A.J. Ericksen (Houston), Anna Soroka (London) and Maia Gez (New York) and associates Annie Serafim (Boston) and Alexandra Santana (Houston); and included support from partners Ian Cuillerier, Scott Fryman and Elodie Gal, associates Elle Cotzomi and Andreas Apostolides (all in New York) and trainees Rudolf Gleckler and Canaan Chan (both in London).
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