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Teva signs new $3B syndicated revolving credit facility

Tuesday, December 18, 2012 02:23 PM

Teva Pharmaceutical Industries, a global pharmaceutical company, has entered into a new five-year, $3 billion unsecured revolving credit facility, which replaces its existing $2.5 billion credit facility.

“By signing this new revolving credit facility, with its increased size and extended term, we took another step on our recently announced new strategy and secured ample liquidity to support Teva's future growth," said Eyal Desheh, executive vice president and CFO of Teva. “We were very pleased to see the significant oversubscription, demonstrating the strong desire from our relationship banks, as well as from additional new banks, to commit to this new facility.”

Citi and HSBC Bank are acting as coordinating bookrunners and mandated lead arrangers for the facility.

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