Let us pay attention to the release of one of the world's leading pharmaceutical companies TEVA PHARMACEUTICALS with a redemption in 2028 the Eurobond in the amount of 1.25 billion dollars was placed in April 2018. On paper there is one call option for three months before maturity. Please note that the minimum lot for TEVA 6 ¾ 03/01/28 is 200 thousand dollars. The release is under maintenance at NSD.
TEVA PHARMACEUTICALS is the largest generic producer in the world. The company produces hundreds of generic versions of branded antibiotics, heart medications, heartburn medications, and more. About half of sales are in the USA, one third in the EU, and the company's products are also available in Russia. The headquarters is located in Israel. TEVA PHARMACEUTICALS employs 43 thousand people.
In 2018, the issuer's revenue and EBITDA amounted to $ 18.9 and $ 0.2 billion, respectively, and the net loss was fixed at $ 2.2 billion. Moody's keeps a “stable” outlook on the issuer rating change (Ba2), S & P and Fitch agencies have a “negative” rating (both are BB). TEVA PHARMACEUTICALS shares are traded on the NYSE, with a current market capitalization of $ 19.6 billion.
February 12, 2019 ICD placed 5-year eurobonds for 500 million euros at a rate of 5.15% per annum. The issue in euro has become a debut for the issuer and is a senior without options for early redemption and / or a change in coupon level. According to the organizers, the demand for paper amounted to 875 million euros. The issue has been assigned BB- ratings by the S & P and Fitch agencies.
Eurobond has risen in price by more than a “figure” since its placement and is now trading above par. Nevertheless, it still looks interesting not only in the segment of Russian euro papers (see the market map on page 19 of the review), but also against the background of international Eurobonds from members of similar credit quality.
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