Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) hopes to recycle some of its $32.5 billion debt through $3.5 billion worth of bond offerings. The Israeli pharmaceutical company said today that it intends offering bonds worth $2.25 billion and €1 billion and to repay $3.8 billion worth of debt. Teva said it would, "Use the net proceeds from the offerings to repay $2.3 billion outstanding indebtedness under its US dollar and Japanese yen term loan agreements and, together with cash on hand, to repay all $1.5 billion outstanding indebtedness under its 1.40% senior notes due 2018." RELATED ARTICLES Teva's troubles reflected in high bond yields Outrage as Teva charges $18,275 for generic drug in US Despite woes, top 10 Teva execs cost NIS 180m in 2017 Kare Schultz buys time for Teva and himself Teva took on $34 billion in debt in 2016 to fund the $40 billion acquisition of Allergan's generics division Actavis. At the end of the fourth quarter of 2018, the debt had been reduced to $32.5 billion following the sale of assets. Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018
