Teva Announces Pricing Of $2.0 Billion Of Senior Notes

Teva Pharmaceutical Industries Limited (NYSE: TEVA) announced today that it successfully priced a debt offering by its special purpose finance subsidiaries, consisting of two tranches:

• $700,000,000 of 2.250% fixed rate senior notes maturing in March 2020 issued by Teva Pharmaceutical Finance IV, LLC; and
• $1,300,000,000 of 2.950% fixed rate senior notes maturing in December 2022 issued by Teva Pharmaceutical Finance Company BV

The notes will be sold at a price of $999.55 and $998.02 per $1,000 principal amount, respectively, and are rated A3 by Moody's Investor Services, A- by Standard & Poor's and A- by Fitch Ratings. The notes will be guaranteed by Teva Pharmaceutical Industries Limited.

"We are very satisfied with the outcome of our debt offering, which was executed to repay existing debt in line with our recently announced new strategy," stated Eyal Desheh, Executive Vice President and Chief Financial Officer of Teva. "The success of this offering demonstrates the continued confidence that fixed-income investors have in Teva".

Teva intends to use the net proceeds from this offering to repay the approximately $700 million remaining outstanding under a term loan credit facility due in 2013 and 2014 and redeem the $1 billion outstanding principal amount of its 1.70% Senior Notes due November 2014 via a make-whole call. The balance will be used to repay other indebtedness and/or for general corporate purposes.

These securities are being offered pursuant to Teva's effective shelf registration statement previously filed with the Securities and Exchange Commission. The offering is being made by a group of underwriters led by Barclays Capital Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Offers and sales of the senior notes may be made only by the related prospectus and prospectus supplement. Closing of the offering is expected on December 18, 2012.

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