Takeda issues 500 billion yen bond

In the wake of its takeover of Shire, Japanese drugmaker Takeda (TYO: 4502) has announced it has filed paperwork for the issuance of a 500 billion yen ($4.5 billion) bond.

The company has significantly increased its debt commitments since agreeing terms, in May 2018, to buy the Ireland-headquartered rare disease drugmaker for £46 billion ($62 billion). The latest move follows the issuance of $5.5 billion of bonds in late 2018.

Takeda says that it does not intend to increase its overall level of borrowing, but may continue refinancing to arrange the structure of its debts in an optimal way.