ENDP Endo International PLC

On May 14, 2020, Endo International plc issued a press release announcing that its wholly owned subsidiaries, Par Pharmaceutical, Inc., a New York corporation (“PPI”), Endo Designated Activity Company, a designated activity company incorporated under the laws of Ireland (“Endo DAC”), Endo Finance LLC, a Delaware limited liability company (“Endo Finance”), Endo Finco Inc., a Delaware corporation (“Endo Finco,” and collectively with PPI, Endo DAC, and Endo Finance, each an “Issuer” and together, the “Issuers”) and, as the context indicates, any one or more of such Issuers, are commencing offers to exchange (collectively, the “Exchange Offers”) (a) any and all of the outstanding 5.375% Senior Unsecured Notes due 2023 issued by Endo Finance LLC and Endo Finco Inc., (b) any and all of the outstanding 6.000% Senior Unsecured Notes due 2023 issued by Endo DAC (f/k/a Endo Limited), Endo Finance LLC and Endo Finco Inc., and (c) any and all of the outstanding 6.000% Senior Unsecured Notes due 2025 issued by Endo DAC (f/k/a Endo Limited), Endo Finance LLC and Endo Finco Inc. (collectively, the “Old Notes”) for (i) up to $400,000,000 aggregate principal amount of additional 7.500% senior secured notes due 2027 issued by PPI, (ii) up to $1,110,440,000 aggregate principal amount of new 9.500% second lien secured notes due 2027 issued by Endo DAC, Endo Finance and Endo Finco and (iii) up to $2,707,766,000 aggregate principal amount of new 6.000% unsecured notes due 2028 issued by Endo DAC, Endo Finance and Endo Finco. In conjunction with the Exchange Offers, the Issuers also intend to solicit the consent of the holders of the Old Notes which would eliminate substantially all restrictive covenants, certain events of default and certain other provisions contained in each indenture governing the Old Notes (the “Consent Solicitations”). A copy of the press release is attached hereto as Exhibit 99.1.

This report is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offers and related Consent Solicitations will be made only pursuant to a confidential offering memorandum and consent solicitation statement and only to persons certifying that they are (i) in the United States and “qualified institutional buyers” within the meaning of Rule 144A under the Securities Act (that are also institutional “accredited investors” within the meaning of Rule 501 of Regulation D of the Securities Act), or (ii) not “U.S. persons” and are outside of the United States (and are not acting for the account or benefit of a U.S. person) within the meaning of Regulation S under the Securities Act.