Debt Tender Offer
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Teva Announces Increase of the Maximum Tender Amount of its Debt Tender Offer and Increases to Pool Tender Caps for Pool 2 Notes and Pool 3 Notes
Globenewswire· 2025-05-22 17:56
Core 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 - Tenders can be withdrawn until 5:00 p.m. Eastern Time on June 2, 2025, after which they may not be withdrawn except under certain circumstances [11].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].
Sabre Corporation Announces Cash Tender Offers by Sabre GLBL Inc. for Existing Secured Debt
Prnewswire· 2025-05-21 00:43
Core Viewpoint - Sabre Corporation announced the commencement of tender offers to purchase up to $336.375 million of its securities through its subsidiary Sabre GLBL Inc, with specific terms and conditions outlined in the Offer to Purchase [1][3][4]. Tender Offer Details - The tender offers will expire on June 17, 2025, with an early tender deadline of June 3, 2025, for holders to receive total consideration including an early tender premium [3][4]. - The total consideration for each $1,000 principal amount of securities validly tendered before the early tender deadline includes a premium of $50.00, with specific amounts for different series of securities detailed in the announcement [1][4]. - Securities tendered after the early tender deadline will receive a lower tender offer consideration, which is the total consideration minus the early tender premium [4][15]. Securities Information - The tender offers include various senior secured notes with different principal amounts and interest rates, such as 8.625% notes due 2027 and 7.375% notes due 2025, with total amounts outstanding of $656.783 million and $23.393 million respectively [1][4]. - The aggregate maximum tender amount is subject to increase or decrease at the discretion of Sabre GLBL, and the purchase of one series of securities is not conditioned on the purchase of any other series [1][6]. Financing Transaction - Sabre GLBL announced a financing transaction involving the offering of $1.325 billion aggregate principal amount of 11.125% senior secured notes due 2030, which is expected to provide sufficient net cash proceeds to fund the aggregate purchase price for the tender offers [7][8]. - Completion of the financing transaction is subject to customary closing conditions, and there are no assurances that it will be completed [7]. Additional Information - The announcement does not contain the full terms and conditions of the tender offers, which are detailed in the Offer to Purchase [8]. - Sabre GLBL may also purchase additional securities in the open market or through other means following the completion of the tender offers [9].