Endo International’s $1.295 Billion Notes Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in the offering, and JPMorgan Chase Bank, N.A., as lead arranger and administrative agent.

Endo Luxembourg Finance Company I S.à r.l. and Endo U.S. Inc., subsidiaries of Endo International plc (“Endo International”), executed the offering of $1.295 billion aggregate principal amount of 6.125% Senior Secured Notes due 2029.

Endo International also executed an amendment and restatement of its credit agreement to, among other things, refinance its existing term loan facility with a new tranche of term loans maturing March, 2028 and extend the maturity of a majority of its revolving credit facility from  March 2024 to March 2026 (other than with respect to the revolving commitments of non-extending lenders).

The net proceeds of the notes offering, together with the net proceeds of the new term loan facility and cash on hand, were used to fully repay Endo International’s existing term loan facility.

Endo International is a specialty pharmaceutical company committed to helping everyone they serve live their best life through the delivery of high-quality, life-enhancing therapies.

The Simpson Thacher team included Art Robinson (Picture), Marisa Stavenas, John O’Connell, Jieun Lim and Taylor Wettach (Capital Markets); Bill Sheehan, Robert Meyer, Kalyan Venkatraj, Chris Zheng and Humberto Romero Carrillo (Credit); Jonathan Pall and Soogy Lee (Collateral); Jon Cantor and Ed Grais (Tax); Vanessa Burrows (Healthcare); Genevieve Dorment, Kate Mirino and Bobbie Burrows (Intellectual Property); Jennie Getsin (FINRA/Blue Sky); Jeanne Annarumma and Alisa Tschorke (Executive Compensation and Benefits); and Timothy Mulvihill (Environmental).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Jieun Lim – Simpson Thacher & Bartlett; Robert Meyer – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Humberto Romero Carrillo – Simpson Thacher & Bartlett; William Sheehan – Simpson Thacher & Bartlett; Marisa Stavenas – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Kalyan Venkatraj – Simpson Thacher & Bartlett; Taylor Wettach – Simpson Thacher & Bartlett; Xiuyi Zheng – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; JP Morgan Chase & Co.;

Author: Martina Bellini