S&C Advises Takeda in $3 Billion Senior Notes Offering and Concurrent $1.5 Billion Tender Offers

Takeda Pharmaceutical Company completed an SEC-offering of $3 billion of senior notes, consisting of $1.1 billion of 5.3% senior notes due 2034, $800 million of 5.65% senior notes due 2044, $600 million of 5.65% senior notes due 2054 and $500 million of 5.8% senior notes due 2064.

Concurrently with the notes offering, Shire Acquisitions Investments Ireland Designated Activity Company and Baxalta Incorporated, both subsidiaries of Takeda, announced their respective initial offers to purchase up to $1 billion of certain notes. The size of the tender offers were later increased to $1.5 billion.

A portion of the proceeds of the offering was used to settle the concurrent tender offers, with the remainder of the proceeds used to repay outstanding borrowings under Takeda's commercial paper facility.

Takeda is a Japan-headquartered global biopharmaceutical company engaged in the research, development, production and global commercialization of biopharmaceutical products.

The S&C team included Keiji Hatano, Nirav Mehta, Xiaoyu Duan and Eric Ressler. Jeff Hochberg, Saul Brander and Tristan Hood advised on tax matters, and Kirsten Rodger and trainee solicitor Anna McLaughlin advised on U.K. law- and EU law-related matters.