Teva Completes Amendment to Credit Facilities
2018年2月1日 - 10:26PM
ビジネスワイヤ(英語)
Teva Pharmaceutical Industries Ltd., (NYSE and TASE: TEVA) today
announced amendments to its USD and JPY term loan and revolving
credit facilities, providing the company greater flexibility in its
financial leverage ratio covenants. The amended leverage ratio
covenants in the credit agreements permit a gradual increase in the
leverage ratio from 5.0 times currently to 5.9 times at Q3 and Q4
2018, gradually declining to 3.5 times by December 31, 2021.
Michael McClellan, EVP and Chief Financial Officer of Teva,
stated: “We are pleased to have the continued support of our
lenders and appreciate their confidence in Teva and specifically in
our robust restructuring plan.” Mr. McClellan continued: “This
amendment is an important part of our plan to obtain additional
flexibility with our credit facilities and manage our capital
structure.”
As of January 31, 2018, the aggregate principal amount
collectively outstanding under the USD term loan facility was $1.6
billion, the aggregate principal amount outstanding under the JPY
term loan facilities was $1.4 billion and the aggregate committed
principal amount (as of January 31, 2018 this facility remained
fully undrawn) under the USD revolving credit facility will be
reduced from $4.5 billion to $3.0 billion. The amendments received
the support of lenders holding approximately 94% of the aggregate
loans and undrawn commitments across the five credit
facilities.
The amendments include certain terms and conditions including
Teva's commitment not to distribute common share dividends while
its net debt to EBITDA is above 4.75 times. Additionally, although
no prepayment is required, if Teva decides to make a prepayment
using proceeds from divested assets and/or future indebtedness,
then this payment must be applied on a pro-rata basis between all
USD and JPY term loans.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by approximately 200
million patients in over 60 markets every day. Headquartered in
Israel, Teva is the world’s largest generic medicines producer,
leveraging its portfolio of more than 1,800 molecules to produce a
wide range of generic products in nearly every therapeutic area. In
specialty medicines, Teva has the world-leading innovative
treatment for multiple sclerosis as well as late-stage development
programs for other disorders of the central nervous system,
including movement disorders, migraine, pain and neurodegenerative
conditions, as well as a broad portfolio of respiratory products.
Teva is leveraging its generics and specialty capabilities in order
to seek new ways of addressing unmet patient needs by combining
drug development with devices, services and technologies. Teva's
net revenues in 2016 were $21.9 billion. For more information,
visit www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding amendments to our USD and JPY term loan and revolving
credit facilities, which are based on management’s current beliefs
and expectations and are subject to substantial risks and
uncertainties, both known and unknown, that could cause our future
results, performance or achievements to differ significantly from
that expressed or implied by such forward-looking statements.
Important factors that could cause or contribute to such
differences include risks relating to:
- our substantially increased
indebtedness and significantly decreased cash on hand, which may
limit our ability to incur additional indebtedness, engage in
additional transactions or make new investments, and may result in
a further downgrade of our credit ratings; and our inability to
raise debt or borrow funds in amounts or on terms that are
favorable to us;
- our generics medicines business,
including: that we are substantially more dependent on this
business, with its significant attendant risks, following our
acquisition of Allergan plc’s worldwide generic pharmaceuticals
business (“Actavis Generics”); our ability to realize the
anticipated benefits of the acquisition (and any delay in realizing
those benefits) or difficulties in integrating Actavis Generics;
the increase in the number of competitors targeting generic
opportunities and seeking U.S. market exclusivity for generic
versions of significant products; price erosion relating to our
generic products, both from competing products and as a result of
increased governmental pricing pressures; and our ability to take
advantage of high-value biosimilar opportunities;
- our specialty medicines business,
including: competition for our specialty products, especially
Copaxone®, our leading medicine, which faces competition from
existing and potential additional generic versions and
orally-administered alternatives; our ability to achieve expected
results from investments in our product pipeline; competition from
companies with greater resources and capabilities; and the
effectiveness of our patents and other measures to protect our
intellectual property rights;
- our business and operations in general,
including: failure to effectively execute the recently announced
restructuring plan; uncertainties relating to the potential
benefits and success of our new organizational structure and recent
senior management changes; our ability to develop and commercialize
additional pharmaceutical products; manufacturing or quality
control problems, which may damage our reputation for quality
production and require costly remediation; interruptions in our
supply chain; disruptions of our or third party information
technology systems or breaches of our data security; the impact of
continuing consolidation of our distributors and customers; and
variations in patent laws that may adversely affect our ability to
manufacture our products;
- our ability to consummate dispositions
on terms acceptable to us; adverse effects of political or economic
instability, major hostilities or terrorism on our significant
worldwide operations; and our ability to successfully bid for
suitable acquisition targets or licensing opportunities, or to
consummate and integrate acquisitions;
- compliance, regulatory and litigation
matters, including: costs and delays resulting from the extensive
governmental regulation to which we are subject; the effects of
reforms in healthcare regulation and reductions in pharmaceutical
pricing, reimbursement and coverage; potential additional adverse
consequences following our resolution with the U.S. government of
our FCPA investigation; governmental investigations into sales and
marketing practices; potential liability for sales of generic
products prior to a final resolution of outstanding patent
litigation; product liability claims; increased government scrutiny
of our patent settlement agreements; failure to comply with
complex Medicare and Medicaid reporting and payment
obligations; and environmental risks;
- other financial and economic risks,
including: our exposure to currency fluctuations and restrictions
as well as credit risks; the significant increase in our intangible
assets, which may result in additional substantial impairment
charges; potentially significant increases in tax liabilities; and
the effect on our overall effective tax rate of the termination or
expiration of governmental programs or tax benefits, or of a change
in our business;
and other factors discussed in our Annual Report on Form 20-F
for the year ended December 31, 2016 (“Annual Report”),
including in the section captioned “Risk Factors,” and in our other
filings with the U.S. Securities and Exchange Commission,
which are available at www.sec.gov and www.tevapharm.com.
Forward-looking statements speak only as of the date on which they
are made, and we assume no obligation to update or revise any
forward-looking statements or other information contained herein,
whether as a result of new information, future events or otherwise.
You are cautioned not to put undue reliance on these
forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180201005700/en/
Teva Pharmaceutical Industries Ltd.IR Contacts:United
StatesKevin C. Mannix, 215-591-8912orIsraelRan Meir,
972 (3) 926-7516orTomer Amitai, 972 (3) 926-7656orPR
Contacts:IsraelIris Beck Codner, 972 (3) 926-7208orUnited
StatesKaelan Hollon, 202-412-7076
Teva Pharmaceutical Indu... (NYSE:TEVA)
過去 株価チャート
から 6 2024 まで 7 2024
Teva Pharmaceutical Indu... (NYSE:TEVA)
過去 株価チャート
から 7 2023 まで 7 2024