Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Regulation S offering by Par Pharmaceutical, Inc., a subsidiary of Endo International plc (“Endo International”), of $1.5 billion aggregate principal amount of 7.5% Senior Secured Notes due 2027.
The Firm also represented J.P. Morgan Securities LLC, as dealer manager, in connection with the concurrent tender offers for aggregate consideration of up to $1.5 billion for certain series of Endo International’s outstanding senior unsecured notes and the related consent solicitations.
The Firm also represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, in connection with an amendment to Endo International’s credit agreement to, among other things, extend the maturity of its revolving credit facility from April 2022 to March 2024 (other than with respect to the revolving commitments of non-extending lenders).
The net proceeds of the notes offering, together with cash on hand, were used to fund the tender offers and related consent solicitations and to pay certain premiums, fees and expenses related thereto.
Endo International is an Ireland-domiciled, global specialty pharmaceutical company focused on generic and branded pharmaceuticals that aims to be the premier partner to healthcare professionals and payment providers, delivering an innovative suite of generic and branded drugs to meet patients’ needs.
The Simpson Thacher team included Art Robinson, John O’Connell, Christine Turner and Lanna Lan (Capital Markets); Marisa Stavenas, Clark Warthen, Ashley Yoon and Mary-Jane Rabeony (Capital Markets/ Liability Management); Bill Sheehan, Mike Vernace and Robert Meyer (Credit); Larry Moss and Pinto Adhola (Executive Compensation and Benefits); Marcela Robledo and Marissa Lambert (Intellectual Property); Timothy Mulvihill (Environmental); and Andrew Pagliughi (Blue Sky).