Takeda Announces Loan Credit Deal, Amendment To Bridge Credit Deal On Shire Deal

(RTTNews) - Takeda Pharmaceutical Company Limited (TKPHF.PK, TKPYY.PK) said that it reached a term loan credit agreement for an aggregate principal amount of up to $7.5 billion with leading global financial institutions including J.P. Morgan Chase Bank N.A., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd. and Mizuho Bank, Ltd. The majority of the funding has been committed by Japanese institutions.

Takeda noted that the proceeds from the Term Loan Credit Agreement, which was heavily subscribed and is the largest syndication in Asia to date, will be used to fund a portion of Takeda's cash consideration for its recommended offer for Shire plc, while also reducing commitments under the bridge facility agreement entered in connection with the proposed acquisition on May 8, 2018.

The transaction with Shire plc is subject to shareholder votes from Takeda and Shire plc shareholders.

In connection with entering into the Term Loan Credit Agreement, certain technical and conforming amendments have been made to the Bridge Credit Agreement.