| Schedule of Senior Notes and Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior notes EUR 1,000 million (4) |
|
|
6.00 |
% |
|
|
2025 |
|
|
|
— |
|
|
|
429 |
|
Senior notes USD 1,000 million (5) |
|
|
7.13 |
% |
|
|
2025 |
|
|
|
— |
|
|
|
427 |
|
Senior notes EUR 900 million (6) |
|
|
4.50 |
% |
|
|
2025 |
|
|
|
— |
|
|
|
515 |
|
Senior notes CHF 350 million (12) |
|
|
1.00 |
% |
|
|
2025 |
|
|
|
— |
|
|
|
387 |
|
Senior notes USD 3,500 million (10) |
|
|
3.15 |
% |
|
|
2026 |
|
|
|
1,798 |
|
|
|
3,374 |
|
Senior notes EUR 700 million |
|
|
1.88 |
% |
|
|
2027 |
|
|
|
823 |
|
|
|
730 |
|
Sustainability-linked senior notes USD 1,000 million (1)(*)(10) |
|
|
4.75 |
% |
|
|
2027 |
|
|
|
649 |
|
|
|
1,000 |
|
Sustainability-linked senior notes EUR 1,100 million (1)(*) |
|
|
3.75 |
% |
|
|
2027 |
|
|
|
1,292 |
|
|
|
1,144 |
|
Senior notes USD 1,250 million |
|
|
6.75 |
% |
|
|
2028 |
|
|
|
1,250 |
|
|
|
1,250 |
|
Senior notes EUR 750 million |
|
|
1.63 |
% |
|
|
2028 |
|
|
|
880 |
|
|
|
778 |
|
Sustainability-linked senior notes USD 1,000 million (2)(*) |
|
|
5.13 |
% |
|
|
2029 |
|
|
|
1,000 |
|
|
|
1,000 |
|
Sustainability-linked senior notes USD 600 million (3)(*)(10) |
|
|
7.88 |
% |
|
|
2029 |
|
|
|
398 |
|
|
|
600 |
|
Sustainability-linked senior notes EUR 800 million (3)(*)(10) |
|
|
7.38 |
% |
|
|
2029 |
|
|
|
779 |
|
|
|
835 |
|
Sustainability-linked senior notes EUR 1,500 million (2)(*) |
|
|
4.38 |
% |
|
|
2030 |
|
|
|
1,762 |
|
|
|
1,562 |
|
Senior notes USD 700 million (7) |
|
|
5.75 |
% |
|
|
2030 |
|
|
|
696 |
|
|
|
— |
|
Sustainability-linked senior notes USD 500 million (3)(*) |
|
|
8.13 |
% |
|
|
2031 |
|
|
|
500 |
|
|
|
500 |
|
Sustainability-linked senior notes EUR 500 million (3)(*) |
|
|
7.88 |
% |
|
|
2031 |
|
|
|
587 |
|
|
|
521 |
|
Senior notes EUR 1,000 million (8) |
|
|
4.13 |
% |
|
|
2031 |
|
|
|
1,168 |
|
|
|
— |
|
Senior notes USD 500 million (9) |
|
|
6.00 |
% |
|
|
2032 |
|
|
|
496 |
|
|
|
— |
|
Senior notes USD 789 million |
|
|
6.15 |
% |
|
|
2036 |
|
|
|
784 |
|
|
|
783 |
|
Senior notes USD 2,000 million |
|
|
4.10 |
% |
|
|
2046 |
|
|
|
1,988 |
|
|
|
1,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,850 |
|
|
|
17,821 |
|
|
|
|
|
(1,798 |
) |
|
|
(1,758 |
) |
Less debt issuance costs (11) |
|
|
|
(66 |
) |
|
|
(61 |
) |
|
|
|
|
|
|
|
|
|
|
Total senior notes and loans |
|
|
$ |
14,986 |
|
|
$ |
16,002 |
|
|
|
|
|
|
|
|
|
|
|
(1) |
If Teva fails to achieve certain sustainability performance targets, a one-time premium payment of 0.15%-0.45% out of the principal amount will be paid at maturity or upon earlier redemption, if such redemption is on or after May 9, 2026. |
(2) |
If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.125%-0.375% per annum, from and including May 9, 2026. |
(3) |
If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.100%-0.300% per annum, from and including September 15, 2026. |
(4) |
In January 2025, Teva repaid $426 million of the 6.00% senior notes due 2025 at maturity. |
(5) |
In January 2025, Teva repaid $427 million of the 7.13% senior notes due 2025 at maturity. |
(6) |
In March 2025, Teva repaid $515 million of the 4.50% senior notes due 2025 at maturity. |
(7) |
In May 2025, Teva issued senior notes in an aggregate principal amount of $700 million bearing 5.75% annual interest and due December 2030. |
(8) |
In May 2025, Teva issued senior notes in an aggregate principal amount of €1,000 million bearing 4.125% annual interest and due June 2031. |
(9) |
In May 2025, Teva issued senior notes in an aggregate principal amount of $500 million bearing 6.00% annual interest and due December 2032. |
(10) |
In June 2025, Teva consummated a cash tender offer and extinguished $1,579 million aggregate principal amount of its 3.15% senior notes due 2026; $351 million aggregate principal amount of its 4.75% senior notes due 2027; $202 million aggregate principal amount of its 7.88% senior notes due in 2029; and $157 million aggregate principal amount of its 7.38% senior notes due in 2029. The extinguishment resulted in a loss of $10 million which was recorded under financial expenses, net. |
(11) |
Debt issuance costs as of December 31, 2025 include $20 million in connection with the issuance of the senior notes in May 2025, partially offset by $6 million acceleration of issuance costs related to the cash tender offer. |
(12) |
In July 2025, Teva repaid $444 million of the 1% senior notes due 2025 at maturity. |
* |
Interest rate adjustments and a potential one-time premium payment related to the sustainability-linked bonds are treated as bifurcated embedded derivatives. See note 10c. |
|