Teva Pharmaceutical Industries Ltd to redeem USD1bn senior notes
completes USD2bn senior note offering
Dec 19, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Pharmaceutical company Teva Pharmaceutical Industries Ltd TEVA said on Tuesday that it has called for the redemption of USD1bn of the outstanding principal amount of 1.700% senior notes due 2014.
This redemption is being initiated by the company's finance subsidiary, Teva Pharmaceutical Finance IV LLC.
The company added that the redemption is being funded with proceeds from its USD2bn senior notes offering, which closed today.
Additionally, the company stated that it has set the redemption date as 7 January 2013, with the redemption price equalling the principal amount of the notes plus a make whole premium.
On 7 January 2013, the redemption price, together with accrued and unpaid interest from 10 November 2012 to, but excluding, the redemption date, will become due and payable on the notes, according to the company.
Comments on this story may be sent to firstname.lastname@example.org
(C)1994-2012 M2 COMMUNICATIONS http://www.m2.com