Teva Pharmaceutical cash flow strength cuts chances of M&A loan

Israeli generic drugmaker Teva Pharmaceutical’s $6.8bn takeover of US based Cephalon may involve a syndicated loan, although the bond markets and strong internal cash flow are strong potential funding sources, according to loans bankers close to the borrower.

  • 03 May 2011

“They could probably pay for it out of internal cash flow,” said a loans banker close to the borrower. “They have time so they will probably do a bond issue.”

Teva recorded record annual cash flow of $4.1bn for 2010, up from $3.4bn in 2009.

Teva and Cephalon announced the ...

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