Teva says 0.5%, 0.25% notes convertible till Nov. 11, adjusts conversion price on two other series

By Susanna Moon

Chicago, Aug. 10 - Teva Pharmaceutical Industries Ltd. subsidiary Teva Pharmaceutical Finance II, LLC said its 0.5% series A convertible senior debentures due 2024 and its 0.25% series B convertible senior debentures due 2024 will be convertible until Nov. 11.

The company also said the 1.75% convertible senior debentures due 2026 are now convertible at $50.0385, and the 0.25% notes due 2026 are convertible at $46.0354. The adjustment was due to the payment of cash dividends by the notes' guarantor.

The 0.5% notes are convertible into American Depositary Receipts at a price of $36.9797, based on a conversion rate of 27.0419 ADRs. The 0.25% series B notes are convertible at $34.3987, based on a conversion rate of 29.0709 ADRs.

The company's ADRs closed at $50.18 (Nasdaq: TEVA) on Monday.

The company previously issued notices of convertibility for the 0.5% notes and 0.25% series B notes, which were convertible until Aug. 12.

Teva makes generic and human pharmaceuticals as well as active pharmaceutical ingredients. The company is based in Petach Tikva, Israel.

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