Eli Kalif on net debt
From TEVA Stock | Teva Pharmaceutical Industries Ltd Q3 2021 Earnings Call · · AlphaStreet
“Our net debt at the end of Q3 2021 was 21.7 billion compared to 22.7 billion at the end of Q2 2021, this decrease was mainly due to our free cash flow generation during the quarter as well as exchange rate fluctuation. Our net debt to EBITDA continues to decline coming in at 4.51 times for Q3 2021 as we continue to make progress towards our 2023 targets to be under three times by the end of next year.”
On , Eli Kalif, EVP & CFO at Teva Pharmaceutical Industries, spoke about net debt during TEVA Stock | Teva Pharmaceutical Industries Ltd Q3 2021 Earnings Call on AlphaStreet.
About Eli Kalif
On Teva's Q3 2021 earnings call, Eli Kalif reported that the company's net debt decreased to $21.7 billion from $22.7 billion in the prior quarter, attributing the reduction to free cash flow generation and exchange rate fluctuations. He noted the net debt-to-EBITDA ratio declined to 4.51 times, stating the company was making progress toward its 2023 target of being under three times by the end of 2022. Kalif also announced the launch of a $4 billion offering of sustainability-linked senior notes, describing it as a "debt neutral transaction" with proceeds expected to be used for refinancing existing debt. He stated that finance expenses were expected to remain around $1 billion in 2022.