Teva Pharmaceutical Industries Ltd. announced on September 10, 2026, the successful pricing of an offering of senior notes. The total principal amount of the notes is approximately $4.9 billion (equivalent), consisting of both Euro-denominated and U.S. dollar-denominated debt.
The offering includes five separate series of notes issued by various Teva subsidiaries:
- Teva Pharmaceutical Finance Netherlands II B.V.: €1.0 billion of 4.250% Senior Notes due 2033, and €500 million of 4.625% Senior Notes due 2036.
- Teva Pharmaceutical Finance Netherlands III B.V.: $1.0 billion of 5.500% Senior Notes due 2034, and $1.0 billion of 5.750% Senior Notes due 2037.
- Teva Pharmaceutical Finance Netherlands IV B.V.: $1.2 billion of 5.250% Senior Notes due 2032.
The notes are unsecured senior obligations of the respective issuers and are unconditionally guaranteed by Teva. The sale of the securities is expected to close on or about September 16, 2026.
Teva stated that it intends to use the net proceeds from this offering, together with cash on hand, to fund the conditional redemption of certain existing notes. These redemptions include all outstanding 6.750% Senior Notes due 2028, all outstanding 7.875% and 7.375% Sustainability-Linked Senior Notes due 2029, up to $450 million of 4.750% Sustainability-Linked Senior Notes due 2027, and up to €1.25 billion of 4.375% Sustainability-Linked Senior Notes due 2030. The company also announced an additional conditional redemption for all outstanding 8.125% USD Sustainability-Linked Senior Notes due 2031 and a reduction in the redemption amount for the 4.375% Sustainability-Linked Senior Notes due 2030 from €1.25 billion to €1.15 billion.
The offering was made pursuant to an automatic shelf registration statement on Form S-3 filed with the SEC on February 7, 2025.
