Israeli-US pharmaceutical company Teva has priced a $2.1bn bond package at the tighter end of initial price thoughts. Although Teva is still to sign a binding global settlement on its involvement in the opioid crisis, investors were happy to jump aboard a rare double-B issue yielding as much as 7%.
Teva only intended to issue $1.5bn of 2025 senior unsecured notes but increased the size first to $2bn and finally to $2.1bn equivalent — implying strong demand from the investor community on both sides of the Atlantic. The issue was split into euro and dollar tranches — €1bn
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.