Teva Pharmaceutical Industries has secured a credit facility worth $1.5 billion, Bloomberg reports. The Israeli pharmaceutical company will refinance its debt at more favorable terms for the unsecured revolving loan.
Citigroup and HSBC Holdings are co-coordinators and book-runners of the three-year term credit line. Barclays Capital, BNP Paribas, Credit Suisse, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank Hapoalim BM and Bank Leumi Le-Israel are acting as lenders to Teva during the deal’s syndication.
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