---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-066281"
form_type: "8-K"
ticker: "TEVA"
cik: "0000818686"
company_name: "TEVA PHARMACEUTICAL INDUSTRIES LTD"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T08:01:15.334701+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Teva issues €1.3B and $1.1B senior notes at 7.375%-8.125% to fund $2.5B tender offer

## Summary
- Issued €800M 7.375% '29 notes and €500M 7.875% '31 notes; plus $600M 7.875% '29 and $500M 8.125% '31 notes.
- Net proceeds to fund tender offer for up to $2.5B (upsized from $2.25B) and repay outstanding debt.
- Interest increases 0.10% per sustainability target not met starting Sep 2026.
- Notes are senior unsecured, guaranteed by Teva; redeemable at make-whole or par near maturity.
- Issuers: Teva Finance II (Euro) and Teva Finance III (USD).

## SEC filing metadata
- accession: 0001193125-23-066281
- form_type: 8-K
- ticker: TEVA
- cik: 0000818686
- company_name: TEVA PHARMACEUTICAL INDUSTRIES LTD
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/818686/000119312523066281/0001193125-23-066281-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/818686/000119312523066281/d475718d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-066281
- JSON: https://secwatch.observer/filing/0001193125-23-066281.json
- Plain text: https://secwatch.observer/filing/0001193125-23-066281.txt

## Key facts
- Debt Financings
  TEVA PHARMACEUTICAL INDUSTRIES LTD incurred senior notes of €800,000,000 aggregate principal amount of 7.375% Sustainability-Linked Senior Notes due 2029; €500,000,000 aggregate pr with The Bank of New York Mellon, as trustee at 7.375% per annum (2029 Euro Notes); 7.875% per annum (2031 Euro Notes and 2029 U maturing September 15, 2029 for the 2029 Euro Notes and 2029 USD Notes; September 15, 2031 for the 2031 USD Notes and 2031 Euro Notes.
  - Instrument: senior notes
  - Principal: €800,000,000 aggregate principal amount of 7.375% Sustainability-Linked Senior Notes due 2029; €500,000,000 aggregate pr
  - Counterparty: The Bank of New York Mellon, as trustee
  - Rate: 7.375% per annum (2029 Euro Notes); 7.875% per annum (2031 Euro Notes and 2029 U
  - Maturity: September 15, 2029 for the 2029 Euro Notes and 2029 USD Notes; September 15, 2031 for the 2031 USD Notes and 2031 Euro Notes
  - Event: incurrence
  source text: On March 9, 2023, (i) Teva Pharmaceutical Finance Netherlands II B.V. (“ Teva Finance II ”), a wholly owned subsidiary of Teva Pharmaceutical Industries Limited (the “ Company ”), issued €800,000,000 aggregate principal amount of 7.375% Sustainability-Linked Senior Notes due 2029 (the “ 2029 Euro Notes ”) and €500,000,000 aggregate principal amount of 7.875% Sustainability-Linked Senior Notes due 2031 (the “ 2031 Euro Notes ” and, together with the 2029 Euro Notes, the “ Euro Notes ”); and (ii) Teva Pharmaceutical Finance Netherlands III B.V. (“ Teva Finance III ” and, together with Teva Finance II, the “ Issuers ”), a wholly owned subsidiary of the Company, issued $600,000,0000 aggregate principal amount of 7.875% Sustainability-Linked Senior Notes due 2029 (the “ 2029 USD Notes ”) and $500,000,000 aggregate principal amount of 8.125% Sustainability-Linked Senior Notes due 2031 (the “ 2031 USD Notes ” and, together with 2029 USD Notes, the “ USD Notes ” and together with the Euro Note
  evidence_url: https://www.sec.gov/Archives/edgar/data/818686/000119312523066281/0001193125-23-066281-index.htm
- Material Agreements
  TEVA PHARMACEUTICAL INDUSTRIES LTD entered into Senior Indenture dated March 14, 2018 as supplemented by Fourth Supplemental Indenture dated March 9, 2023 with The Bank of New York Mellon valued at €800,000,000 of 7.375% Sustainability-Linked Senior Notes due 2029; €500,000,000 of 7.875% Sustainab (effective 2023-03-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon
  - Value: €800,000,000 of 7.375% Sustainability-Linked Senior Notes due 2029; €500,000,000 of 7.875% Sustainab
  - Effective: 2023-03-09
  source text: On March 9, 2023, (i) Teva Pharmaceutical Finance Netherlands II B.V. (“ Teva Finance II ”), a wholly owned subsidiary of Teva Pharmaceutical Industries Limited (the “ Company ”), issued €800,000,000 aggregate principal amount of 7.375% Sustainability-Linked Senior Notes due 2029 (the “ 2029 Euro Notes ”) and €500,000,000 aggregate principal amount of 7.875% Sustainability-Linked Senior Notes due 2031 (the “ 2031 Euro Notes ” and, together with the 2029 Euro Notes, the “ Euro Notes ”); and (ii) Teva Pharmaceutical Finance Netherlands III B.V. (“ Teva Finance III ” and, together with Teva Finance II, the “ Issuers ”), a wholly owned subsidiary of the Company, issued $600,000,0000 aggregate principal amount of 7.875% Sustainability-Linked Senior Notes due 2029 (the “ 2029 USD Notes ”) and $500,000,000 aggregate principal amount of 8.125% Sustainability-Linked Senior Notes due 2031 (the “ 2031 USD Notes ” and, together with 2029 USD Notes, the “ USD Notes ” and together with the Euro Note
  evidence_url: https://www.sec.gov/Archives/edgar/data/818686/000119312523066281/0001193125-23-066281-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.