Teva signs $1.5b. funding deal with banking syndicate

By INBAL OMER/ GLOBES
January 24, 2011 15:13

 
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Teva Pharmaceutical Industries Ltd. on Monday signed a new three-year, $1.5 billion unsecured revolving credit line with a banking syndicate. The new credit line replaces and expands existing credit lines at terms that are more favorable to Teva.

Teva CFO Eyal Desheh said, “Our ability to negotiate better terms today is proof of the strength of our cash flow and balance sheet. This facility is part of our financial strategy to secure liquidity for future business needs through revolving credit lines. We were pleased to see strong desire from all our relationship banks to commit to this facility."

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