Simpson Thacher Represents Underwriters in $3 Billion Senior Notes Offering by Takeda Pharmaceutical
07.18.24
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Simpson Thacher recently represented the underwriters, for which J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc. acted as representatives, in connection with the offering by Takeda Pharmaceutical Company Limited (“Takeda”) of $1.1 billion of 5.300% Senior Notes due 2034, $800 million of 5.650% Senior Notes due 2044, $600 million of 5.650% Senior Notes due 2054 and $500 million of 5.800% Senior Notes due 2064. The offering was made pursuant to Takeda’s shelf registration statement on Form F-3 under the Securities Act. Takeda intends to use a portion of the net proceeds from the offering of the notes to settle concurrent tender offers with the remainder to be used to repay outstanding borrowings.
The Firm also represented Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC as dealer managers in connection with tender offers by Takeda’s wholly-owned subsidiaries, Shire Acquisitions Investments Ireland DAC (“SAIIDAC”) and Baxalta Incorporated (“Baxalta”), to purchase up to $1.5 billion aggregate principal amount of SAIIDAC’s outstanding 3.200% Senior Notes due 2026 and Baxalta’s outstanding 4.000% Senior Notes due 2025.
Takeda is a leading biopharmaceutical company headquartered in Japan with a presence in approximately 80 countries.
The Simpson Thacher team included David Snowden, Weiwei Chen and Anni Cai (Capital Markets) in Tokyo; Jon Cantor (Tax); and Jennie Getsin (FINRA and Blue Sky) in New York.