Kirkland Represents Teva on Largest-Ever Offering of Sustainability-Linked Senior Notes

Kirkland advised Teva Pharmaceutical Industries Limited (NYSE and TASE: TEVA), a global leader in generic and specialty medicines, on its offering of $5 billion of sustainability-linked senior notes and on its concurrent tender offer to purchase $4 billion of outstanding senior notes. The notes offering closed and the early tender deadline occurred on November 9, 2021. This represents the largest-ever offering of sustainability-linked notes, and the first-ever by a generic medicines company. Teva is the only pharmaceutical company linking both social and environmental targets to a bond, which includes improving access to medicines in low- and middle-income countries (LMICs) and reducing greenhouse gas (GHG) emissions. 

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The Kirkland team was led by capital markets partners Ross Leff and Jennifer Baumgarten and associates Josh Van Kirk, Robert Van de Mark, Magdalena Auge and Alessandra Henriques, capital markets partner Joshua Korff, ESG & Impact partners Ruth Knox, Alexandra Farmer and Jennie Morawetz, and tax partners Dean Shulman and Adam Kool.