Teva completes $20.4 billion debt financing for Allergan deal

22 July 2016

Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) has attracted more than 30 billion euros ($33.04) of orders for a four billion-euro bond sale in Europe.

Teva is holding the sale to raise money for its $40.5 billion acquisition of the generics arm of Ireland-incorporated Allergan (NYSE: AGN), and earlier this week it sold $15 billion in bonds in the USA.

In taking its sale across the Atlantic, Teva met huge demand in a market which, according to the Financial Times, has been crying out for new bonds due to a short supply since the UK voted to leave the European Union last month.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK