Teva secures $34 billion financing for Allergan acquisition

Teva CFO Eyal Desheh: We appreciate the strong support we received which stems from the compelling economics of this transaction

Teva CFO Eyal-Desheh

 

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has entered into commitment letters relating to its pending acquisition of Allergan’s generic pharmaceuticals business with Bank of America Merrill Lynch, Barclays Bank PLC, BNP Paribas, Citi, Credit Suisse, HSBC, Mizuho Bank, Morgan Stanley Senior Funding, Inc., RBC Capital Markets and Sumitomo Mitsui Banking Corporation.

Pursuant to the commitment letters, the lenders have committed to provide Teva up to $27, 000, 000, 000 in loans under a senior unsecured Bridge Loan Credit Facility.

Further more, up to $6, 750, 000, 000 in loans under an Equity Bridge Loan Credit Facility.

The commitments of the lenders are subject to customary conditions, including the negotiation of definitive financing agreements and other conditions as set forth in the commitment letters.

“With this commitment, we have secured financing for our proposed acquisition of Allergan’s generic pharmaceuticals business, ” stated Eyal Desheh, Teva’s Chief Financial Officer. “We appreciate the strong support we received which stems from the compelling economics of this transaction.”

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