Simpson Thacher represented the initial purchasers, led by BofA Merrill Lynch and Morgan Stanley, in connection with the offering by Endo Pharmaceuticals Holdings Inc. (“Endo”) of $500.0 million aggregate principal amount of 7% Senior Notes due 2019 and $400.0 million aggregate principal amount of 7 1/4% Senior Notes due 2022, in each case pursuant to Rule 144A and Regulation S.
The proceeds from the notes offering together with certain other amounts were deposited into an escrow account, which amount will be released simultaneously with the closing of Endo’s acquisition of American Medical Systems Holdings, Inc. (“AMS”) and subject to certain conditions. The proceeds from the notes offering, together with cash on hand and borrowings under Endo’s new senior secured credit facility, will be used to finance Endo’s acquisition of AMS, refinance Endo’s existing senior credit facility and existing debt of AMS and pay related fees and expenses.
Endo is a United States-based, specialty healthcare solutions company with a diversified business model, operating in three key business segments: branded pharmaceuticals, generics, and medical devices and services. AMS is a leading provider of medical devices and therapies that help restore pelvic health.
The Simpson Thacher team included Art Robinson, Lesley Peng, Juan M. Naveira, Erland Modesto and summer associate Tiffanye Threadcraft (Capital Markets); Tim Mulvihill (Environmental); Drew Purcell and Danny Salinas (Tax); Alvin Brown and Tyler Andersen (Executive Compensation & Employee Benefits); Noah Leibowitz and Kassie Helm (IP Litigation); Marcela Robledo, Michael Hasper and Roxana Niktab (IP); and Andrew Pagliughi (Blue Sky). Paralegal Drew Blacker also provided valuable assistance.