Teva issues €2.6B and $2B sustainability-linked notes; upsizes tender offer to $4B

TEVA PHARMACEUTICAL INDUSTRIES LTD

€1.1B 3.750% notes due 2027 and €1.5B 4.375% notes due 2030 issued.
$1B 4.750% notes due 2027 and $1B 5.125% notes due 2029 issued.
Net proceeds used to fund tender offer for up to $4B (upsized from $3.5B) plus fees, debt repayment, and general purposes.
Interest rates may increase by up to 0.375% from May 2026 if sustainability targets not met.
Notes are senior unsecured obligations guaranteed by Teva; semi-annual interest begins May 9, 2022.

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