BRIEF—Takeda borrows $3.7 billion to fund Shire purchase

Japan’s Takeda Pharmaceutical has agreed terms for a loan of up to $3.7 billion from Japan Bank, to help finance the acquisition of Shire and reduce current bridging loan commitments.

Chief financial officer Costa Saroukos said: “This marks the completion of the intended refinancing program for our bridge facility at an overall blended interest rate across the various components of the refinancing that is highly satisfactory, which we believe supports our intention to maintain our well-established dividend policy and investment grade credit rating.”

“We think that JBIC’s participation in the financing of the acquisition further bolsters our commitment to accelerate our transformation into a global biopharmaceutical leader headquartered in Japan.”