26th Oct 2018 07:52
LONDON (Alliance News) - Japan's Takeda Pharmaceuticals Inc on Friday said it has secured new financing to help it with its acquisition of FTSE 100 member Shire PLC.
The new short-term loan facility is worth JPY500 billion, about GBP3.5 billion.
Further, the Japanese firm has also agreed a new syndicated loan worth up to JPY500 billion which will be used to refinance the short-term loan facility.
Takeda's Chief Financial Officer Costa Saroukos said: "We are pleased to have secured the senior short term loan facility and subordinated loan, which enables us to successfully de-risk a substantial portion of our bridge facility as we continue to make progress toward completing our proposed acquisition of Shire."
Saroukos added: "These agreements, along with our previously announced term loan agreement, support our intention to maintain our well-established dividend policy and investment grade credit rating following closing of the transaction."
Takeda agreed a GBP46 billion acquisition of Irish firm Shire in early May, following a number of rejected offers.
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