Teva prices $5B equivalent sustainability-linked notes; proceeds to repay debt

TEVA PHARMACEUTICAL INDUSTRIES LTD

Teva upsized and priced €1.1B 3.75% notes due 2027, €1.5B 4.375% notes due 2030, $1B 4.75% notes due 2027, and $1B 5.125% notes due 2029.
Largest-ever sustainability-linked note offering and first by a generic medicine company; tied to access-to-medicines and GHG targets.
Net proceeds to fund tender offer for up to $3.5B of existing senior notes maturing 2022-2024 and for general corporate purposes.
Settlement expected November 9, 2021; notes are unsecured senior obligations guaranteed by Teva.

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