Teva Pharmaceutical to pay down $700 million loan via note offerings

By Tali David

Minneapolis, Dec. 13 - Teva Pharmaceutical Finance Company BV and Teva Pharmaceutical Finance IV, LLC plan to use the proceeds of new senior note offerings to repay the roughly $700 million remaining outstanding under a term loan credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

Teva will also use proceeds, along with other available funds, to redeem the $1 billion outstanding principal amount of Teva LLC's 1.7% senior notes due Nov. 10, 2014, to pay the associated make-whole premium of roughly $25 million, to repay other indebtedness and/or for general corporate purposes.

Teva is a Petach Tikva, Israel-based pharmaceutical company.

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