Struggling Teva Pharmaceutical Plans To Raise $5B In Debt

Law360, New York (January 30, 2018, 5:16 PM EST) -- Generic pharmaceutical giant Teva Pharmaceutical Industries Limited, which is implementing a major cost-cutting campaign intended turn around its business performance, plans to raise $5 billion in new debt, according to a shelf registration statement filed Tuesday.

Represented by Kirkland & Ellis LLP, Teva’s filing gives it permission to issue up to $5 billion of debt in one or more transactions at future times determined by the company. The Israeli drugmaker said it will spend proceeds on general needs that could include “working capital, investments in or...
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