UPDATE 1-Teva gets $1.5 bln syndicated credit facility

* Replaces existing credit lines at more favorable terms

* Part of strategy to secure liquidity for business needs

(Adds detail)

TEL AVIV, Jan 24 (Reuters) - Teva Pharmaceutical Industries TEVA.O, the world's biggest generic drugmaker, has signed a new three-year, $1.5 billion unsecured revolving credit facility.

The facility replaces and expands existing credit lines at terms that are more favorable to Israel-based Teva TEVA.TA, it said on Monday.

“Our ability to negotiate better terms today is proof of the strength of our cash flow and balance sheet,” chief financial officer Eyal Desheh said.

The syndicate included Citi and HSBC Bank as joint coordinating book-runners. It also included Barclays Capital, BNP Paribas, Credit Suisse, Goldman Sachs International, JP Morgan, Morgan Stanley, Bank Hapoalim and Bank Leumi. (Reporting by Tova Cohen; Editing by Dan Lalor)