Teva in $15 billion debt financing for Allergan generics deal

19 July 2016

Israeli drugmaker Teva Pharmaceutical Industries (NYSE: TEVA) placed $15 billion of debt on sale on Monday to finance its $40.5 purchase of the generics business of Ireland-incorporated Allergan (NYSE: TEVA).

The net proceeds of the offering will be $14.9 billion and, when completed, this will rank as the year’s third-largest corporate bond deal in any business sector, according to the Financial Times.

Eyal Desheh, Teva’s chief financial officer, said: “The strength of the demand, which was multiple times the size of the offering, and the attractive prices, are a testament to Teva’s financial strength and the strong reputation with investors.”

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