Teva Pharma's 0.25%, 0.5% debentures convertible until May 13

By Jennifer Chiou

New York, Feb. 1 - Teva Pharmaceutical Industries Ltd. subsidiary Teva Pharmaceutical Finance II, LLC announced that its 0.5% series A convertible senior debentures due 2024 and 0.25% series B convertible senior debentures due 2024 will be convertible into American Depositary Receipts until May 13.

The series A debentures will be convertible at a price of $36.6841 per ADR, based on a conversion rate of 27.2598 ADRs. The series B debentures will be convertible at a price of $34.1194 per ADR, based on a conversion rate of 29.3088 ADRs.

The company's ADRs (Nasdaq: TEVA) closed at $55.78 each on Feb. 1.

Bank of New York is the trustee.

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

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