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Pharma Giant Takeda Enters Into $7.5bn Loan Agreement to Fund Shire Takeover

Monday, June 11, 2018   (0 Comments)
Posted by: Kate Oesterle
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Japanese pharmaceutical giant Takeda announced today that entered into a $7.5bn (£5.6bn) term loan credit agreement to fund Shire merger, with several financial institutions.

The loan will be used to pay off a portion of the company's £46bn deal to take over the Ireland-based pharmaceutical company Shire which was agreed upon on 8 May.

Although most of the funding will come from Japanese banks MUFG, Mizuho and Sumitomo Mitsui Banking Corporation, New York-based J.P. Morgan Chase Bank is also involved in the deal.

Costa Saroukos, Takeda's chief financial officer, said: “We are pleased to have secured the term loan facility with backing from leading global financial institutions, which enables us to successfully de-risk a substantial portion of our bridge facility as we continue to make progress towards completing our proposed acquisition of Shire.

 

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