Simpson Thacher & Bartlett and Sullivan & Cromwell have advised the initial purchasers of Takeda Pharmaceuticals’ $3 billion debt offering. Japan’s largest pharmaceutical company issued $1.5 billion in 1.031 percent unsecured dollar-denominated bonds due March 2015, and $1.5 billion in 1.625 percent bonds due March 2017. The bonds are listed on the Singapore Exchange Securities Trading.

Nomura, JP Morgan, Morgan Stanley, Bank of America Merrill Lynch, and Citigroup were the joint bookrunners on the transaction.

Takeda will use the proceeds to help repay its debt related to its acquisition of Nycomed, a European pharmaceutical company, in September 2011.

Simpson Thacher’s Tokyo corporate partners David Sneider and Alan Cannon led the team that represented the initial purchasers. Tokyo-based Sullivan & Cromwell partner Izumi Akai helmed the team that counseled Takeda.  

Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.

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