DUBLIN, April 13, 2017 /PRNewswire/ -- Endo
International plc (NASDAQ: ENDP) ("Endo") today announced that Endo
Designated Activity Company, Endo Finance LLC and Endo Finco Inc.
(collectively, the "Issuers"), its wholly-owned subsidiaries,
priced $300 million aggregate
principal amount of 5.875% senior secured notes due 2024 at an
issue price of $1000 per $1000 principal amount in connection with their
previously announced private offering. The notes will be senior
obligations of the Issuers and will be guaranteed by Endo and
certain of Endo's subsidiaries and will be secured by first
priority liens on the same collateral that secures Endo's
obligations under its previously announced newly proposed senior
secured credit facilities.
Endo intends to use the net proceeds from the offering, together
with approximately $3.4 billion of
borrowings under its new term loan facility and cash on hand, to
repay all outstanding loans and all other obligations under its
existing credit facilities (the "Refinancing") and to pay related
fees and expenses.
The notes and the related guarantees have not been, and will not
be, registered under the Securities Act of 1933 (the "Securities
Act"), as amended, or any applicable state or foreign securities
laws, and will be offered only to qualified institutional buyers in
reliance on Rule 144A, and to persons outside the United States in compliance with
Regulation S under the Securities Act. Unless so registered, the
notes and the related guarantees may not be offered or sold in
the United States except pursuant
to an exemption from the registration requirements of the
Securities Act and applicable state securities laws. This press
release will not constitute an offer to sell or a solicitation of
an offer to buy any notes or any other securities.
About Endo International plc
Endo International plc
(NASDAQ: ENDP) is a highly focused generics and specialty branded
pharmaceutical company delivering quality medicines to patients in
need through excellence in development, manufacturing and
commercialization. Endo has global headquarters in Dublin, Ireland, and U.S. headquarters in
Malvern, PA. Learn more at
www.endo.com.
Forward-Looking Statements
This press release
contains forward-looking statements including, but not limited to,
Endo's financing plans, including Endo's intention to offer notes,
the Refinancing and the details thereof and the use of proceeds of
the proposed offering. Endo has tried, whenever possible, to
identify such statements by words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "projected,"
"forecast," "will," "may" or similar expressions. Endo has based
these forward-looking statements on its current expectations and
projections about the growth of its business, its financial
performance and the development of its industry. Because
these statements reflect Endo's current views concerning future
events, these forward-looking statements involve risks and
uncertainties. There can be no assurance that Endo will be able to
complete the proposed offering on the anticipated terms, or at all.
Although Endo believes that these forward-looking statements and
information are based upon reasonable assumptions and expectations,
readers should not place undue reliance on them, or any other
forward looking statements or information in this press release.
Investors should note that many factors, as more fully described in
the documents filed by Endo with securities regulators in
the United States and Canada including under the caption "Risk
Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K filings, as
applicable, with the Securities and Exchange Commission and with
securities regulators in Canada on
the System for Electronic Document Analysis and Retrieval ("SEDAR")
and as otherwise enumerated herein or therein, could affect Endo's
future financial results and could cause Endo's actual results to
differ materially from those expressed in forward-looking
statements contained in Endo's Annual Report on Form 10-K for the
year ended December 31, 2016. The
forward-looking statements in this press release are qualified by
these risk factors. These are factors that, individually or in the
aggregate, could cause our actual results to differ materially from
expected and historical results. Endo assumes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future developments or otherwise, except as may
be required under applicable securities law.