Leading global law firm Baker McKenzie advised the syndicate of 10 lenders on the multi-currency USD 1.8 billion senior unsecured sustainability-linked revolving credit agreement. The applicable margin may be impacted based on certain sustainability performance metrics outlined in the revolving credit agreement, including the company’s S&P Environmental, Social and Governance Score.
The transaction marks Teva’s second foray into Sustainable Finance after the USD 5 billion (equivalent) bond issuance in November 2021.
Bank of America Europe Designated Activity Company arranged the transaction as Documentation Agent and as Sustainability Coordinator, and Bank of America Europe DAC, BNP Paribas, Citibank, N.A., Goldman Sachs Bank USA, HSBC Bank Plc, Inesa San Paolo S.P.A, J.P. Morgan S.E., Mizuho Bank, LTD., MUFG Bank, LTD. and PNC Bank, National Association, were the Bookrunners & Mandated Lead Arrangers and Lenders.
The Baker McKenzie team was led by London-based High Yield Capital Markets & Leveraged Finance partners David Becker, Rob Mathews and Haden Henderson, and senior associate Ben Bierwirth, supported by, associate Sang Won Koo and trainee Akshay Prasad. Other team members included partners Ben Wilkinson (London), Samuel Marbacher (Zurich), Kai Kramer (Houston), Patricia McDonald (Chicago) and Philippe Steffens (Amsterdam), of counsels Sven Bates (London), Andrea Bolliger (Zurich) and Michael Poland (Chicago) and associates Jorien Reestman (Amsterdam) and Markus Wolf (Zurich). The Israeli law firm Herzog, Fox & Neeman advised the lenders on matters related to Israeli law on this transaction, with a team led by partners Gil White, Allan Sacks and Zara Gold.
The Baker McKenzie team has a long history acting for underwriters, initial purchasers, lenders and other financial advisors to Teva, across Teva's capital structure.
High Yield Capital Markets & Leveraged Finance partner David Becker said: "It has been a pleasure working with Teva and its lender group on another landmark transaction."
The transaction marks Teva’s second foray into Sustainable Finance after the USD 5 billion (equivalent) bond issuance in November 2021.
Bank of America Europe Designated Activity Company arranged the transaction as Documentation Agent and as Sustainability Coordinator, and Bank of America Europe DAC, BNP Paribas, Citibank, N.A., Goldman Sachs Bank USA, HSBC Bank Plc, Inesa San Paolo S.P.A, J.P. Morgan S.E., Mizuho Bank, LTD., MUFG Bank, LTD. and PNC Bank, National Association, were the Bookrunners & Mandated Lead Arrangers and Lenders.
The Baker McKenzie team was led by London-based High Yield Capital Markets & Leveraged Finance partners David Becker, Rob Mathews and Haden Henderson, and senior associate Ben Bierwirth, supported by, associate Sang Won Koo and trainee Akshay Prasad. Other team members included partners Ben Wilkinson (London), Samuel Marbacher (Zurich), Kai Kramer (Houston), Patricia McDonald (Chicago) and Philippe Steffens (Amsterdam), of counsels Sven Bates (London), Andrea Bolliger (Zurich) and Michael Poland (Chicago) and associates Jorien Reestman (Amsterdam) and Markus Wolf (Zurich). The Israeli law firm Herzog, Fox & Neeman advised the lenders on matters related to Israeli law on this transaction, with a team led by partners Gil White, Allan Sacks and Zara Gold.
The Baker McKenzie team has a long history acting for underwriters, initial purchasers, lenders and other financial advisors to Teva, across Teva's capital structure.
High Yield Capital Markets & Leveraged Finance partner David Becker said: "It has been a pleasure working with Teva and its lender group on another landmark transaction."
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