The Firm recently represented the dealer managers and solicitation agents, led by J.P. Morgan Securities LLC, in connection with (1) exchange offers by certain subsidiaries of Endo International plc (“Endo International”) in which approximately $2.77 billion outstanding aggregate principal amount of 5.375% Senior Notes due 2023, 6% Senior Notes due 2023 and 6% Senior Notes due 2025 were exchanged for $515,479,000 aggregate principal amount of 7.5% Senior Secured Notes due 2027, $940,590,000 aggregate principal amount of 9.5% Senior Secured Second Lien Notes due 2027, $1,260,416,000 aggregate principal amount of 6% Senior Notes due 2028 and $47,220,000 in cash and (2) the solicitation of consents from holders of the outstanding 5.375% Senior Notes due 2023, 6% Senior Notes due 2023 and 6% Senior Notes due 2025.
Approximately 97%, 96% and 98% of the 5.375% Senior Notes due 2023, 6% Senior Notes due 2023 and 6% Senior Notes due 2025, respectively, were validly tendered and not validly withdrawn prior to the expiration date. The exchange offers settled on June 16, 2020.
Endo International is a highly focused specialty branded and generics pharmaceutical company delivering quality medicines to patients in need through excellence in development, manufacturing and commercialization.
The Simpson Thacher team included Art Robinson, Marisa Stavenas, John O’Connell and Arielle Trapp (Capital Markets); William Sheehan, Soogy Lee, Jonathan Pall, Robert Meyer, Christine Marshall, Libby Pica and Callie Robins (Banking & Credit); Vanessa Burrows (Healthcare); Jonathan Cantor and Dmitry Zelik (Tax); Kate Mirino (Intellectual Property); Timothy Mulvihill (Environmental); Jeanne Annarumma and Monisha Bhayana (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).