Finance
Teva Sells Record $5 Billion of Sustainability-Linked Bonds
- Deal is linked to firm’s ESG efforts to boost medical access
- Upping of sale is ‘testament’ to demand for ESG bonds, BI says
Photographer: Chris Ratcliffe/Bloomberg
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Teva Pharmaceutical Industries Ltd., one of the largest generic-drugmakers in the world, sold a record $5 billion in bonds tied to environmental, social and governance targets.
The company, through its finance units, raised the funds in U.S. dollar and euro denominated bonds on Tuesday after the offering was upped by $1 billion, according to a person with knowledge of the matter. The longest portion of the four-part deal, a euro-denominated 8.5-year security, yields 4.375%, after initially being marketed in the high 4% area, the person said.