Teva Announces $2,000,000,000 (Equivalent) Debt Tender Offers For Notes Due 2026-2031

Core Viewpoint - Teva Pharmaceutical Industries Ltd. has initiated tender offers to purchase up to $2 billion of its outstanding notes to optimize its debt capital structure and extend the maturity profile of its debt [1][2]. Summary by Relevant Sections Tender Offers - The tender offers are subject to specific terms and conditions outlined in the Offer to Purchase dated May 19, 2025, including the completion of a concurrent debt securities offering [2]. - The total maximum amount for the offers is set at$2 billion, with specific caps for different pools of notes [11]. Notes Details - The offers include various series of notes, such as: - 3.150% Senior Notes due 2026, with an outstanding amount of $3.377 billion and a purchase cap of$1.55 billion [5]. - 4.750% Sustainability-Linked Senior Notes due 2027, with a total amount of $1 billion [5]. - 7.875$600 million [5]. - 8.125% Sustainability-Linked Senior Notes due 2031, with a total amount of $500 million [5]. Offer Timeline - The offers will expire at 5:00 p.m. Eastern Time on June 17, 2025, with an early tender time set for June 2, 2025 [4][8]. - Holders of notes tendered before the early tender time will receive a total consideration that includes an early tender premium of$50 per $1,000 [8][9]. Payment and Settlement - Payments for the notes will be made in U.S. Dollars and Euros, with the initial settlement date expected as early as June 5, 2025, and the final settlement date anticipated on June 20, 2025 [9][10]. - Accrued and unpaid interest will be paid to holders whose notes are accepted for purchase [9]. Conditions and Management - The acceptance of tenders is subject to certain conditions, including the successful completion of the financing transaction [14]. - Teva reserves the right to amend the offers, including increasing or decreasing the total maximum amount and pool tender caps [14].