|View printer-friendly version|
|October 12, 2000 3:32 p.m.|
|Teva Announces Pricing of Convertible Debenture Offering|
Jerusalem, Israel, October 12, 2000 - Teva Pharmaceutical Industries Limited (Nasdaq: TEVA) announced today that Teva Pharmaceutical Finance, LLC ("Teva Finance"), a special purpose U.S. finance subsidiary of Teva, priced its offering of $500 million in aggregate principal amount of 1.5% Convertible Senior Debentures due 2005. The debentures will be convertible into American Depositary Receipts of Teva at the conversion price of U.S. $ 86.23 per ADR (reflecting a premium of 26%, relative to the Nasdaq closing price for Teva's ADRs of U.S. $ 68.4375 on October 4, 2000).