Notice Regarding Pricing of JPY Hybrid Bonds
Notice Regarding Pricing of JPY Hybrid Bonds
OSAKA, Japan, June 7, 2024 – Takeda Pharmaceutical Company Limited (Head Office: Chuo-ku, Osaka; (TSE:4502/NYSE:TAK), “Takeda”) announced that its 2nd Unsecured, Interest Deferrable and Early Redeemable Subordinated Bonds (“the 2nd Hybrid Bonds”) with an aggregate principal amount of JPY 460 billion were priced today.
The proceeds from the 2nd Hybrid Bonds will be applied towards the redemption of Takeda’s 1st Unsecured, Interest Deferrable and Early Redeemable Subordinated Bonds (“the 1st Hybrid Bonds”) on their First Call Date of October 6, 2024.
Overview of the 2nd Hybrid Bonds:
| JPY 460 billion |
| 1.934% per annum (See Note (i) below) |
| June 25, 2024 |
| June 25, 2084 |
| December 25, 2024, for the first payment and thereafter semi-annually on June 25 and December 25 of each year (or, in the case of an early redemption, the early redemption date). |
| Takeda may redeem the 2nd Hybrid Bonds at its discretion on each interest payment date from and including June 25, 2029 or in case where a Tax Event or an Equity Credit Change Event occurs. |
| Takeda may, at its discretion, defer all or some of the payment of interest on the 2nd Hybrid Bonds, subject to mandatory payment clauses. |
| In liquidation proceedings, bankruptcy proceedings, reorganization proceedings, rehabilitation proceedings and similar proceedings in accordance with laws other than the laws of Japan, the 2nd Hybrid Bonds will be subordinate to all senior indebtedness of Takeda and will rank substantially pari passu with the most senior preferred shares of Takeda and senior to the ordinary shares of Takeda. |
9. Equity Credit | 50% (Japan Credit Rating Agency, Ltd. and S&P Global Ratings Japan Inc.) |
10. Offering Format | Public Offering in Japan |
Note:
(i) Subject to step-ups from the day immediately following June 25, 2034 and 2049.
Disclaimer
This announcement has been prepared to publicly disclose the proposed offering of the 2nd Hybrid Bonds and is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
This document does not constitute an offer to sell or a solicitation of an offer to purchase any securities within the United States. The 2nd Hybrid Bonds have not been and will not be registered under the U.S. Securities Act of 1933 (the “Act”) and may not be offered or sold in the United States, absent registration or an applicable exemption from the registration requirements. No 2nd Hybrid Bonds will be offered in the United States.
About Takeda
Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.
Contacts
Investor Relations
Christopher O’Reilly
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+81 (0) 3-3278-2543
Media Relations
Brendan Jennings
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+81 (0) 80-2705-8259
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