TEVA(US:TEVA) Globenewswireยท2025-05-22 17:56Core Viewpoint - Teva Pharmaceutical Industries Ltd. is increasing its maximum tender offer amount from $2.0 billion to approximately $2.25 billion, along with raising the Pool Tender Caps for certain notes [1][2]. Summary by Relevant Sections Tender Offer Details - The total maximum amount for the tender offer is now approximately $2.25 billion, exclusive of accrued and unpaid interest [1]. - The Pool Tender Caps for Pool 2 Notes and Pool 3 Notes have been increased from $250 million to $350 million and from $200 million to $350 million, respectively, also exclusive of accrued and unpaid interest [2]. Notes Involved in the Offer - Teva is offering to purchase various senior notes, including: - USD 3.150% Senior Notes due 2026 [3] - USD 4.750% Sustainability-Linked Senior Notes due 2027 [3] - EUR 3.750% Sustainability-Linked Senior Notes due 2027 [3] - USD 7.875% Sustainability-Linked Senior Notes due 2029 [3] - EUR 7.375% Sustainability-Linked Senior Notes due 2029 [3] - USD 8.125% Sustainability-Linked Senior Notes due 2031 [3] Financial Context - Teva successfully priced a concurrent offering of approximately $2.3 billion of senior notes on May 20, 2025, which was an increase from the previously announced offering size of $2.0 billion [7]. - The settlement of these notes is expected to occur around May 28, 2025, subject to customary closing conditions [7]. Offer Conditions and Timeline - The Offers will expire at 5:00 p.m. Eastern Time on June 17, 2025, unless extended or terminated earlier [11]. - Tenders can be withdrawn until 5:00 p.m. Eastern Time on June 2, 2025, after which they may not be withdrawn except under certain circumstances [11]. Additional Information - The terms of the Offer remain unchanged except for the adjustments to the Total Maximum Amount and the Pool Tender Caps [12]. - Teva reserves the right to amend the Offer, including increasing or decreasing the Total Maximum Amount and Pool Tender Caps [10].