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Endo International plc Announces Endo Health Solutions Inc. Will Commence Exchange Offers

  Endo International plc Announces Endo Health Solutions Inc. Will Commence
                               Exchange Offers

  PR Newswire

  DUBLIN, March 28, 2014

DUBLIN, March 28, 2014 /PRNewswire/ --Endo International plc (NASDAQ: ENDP)
(TSX: ENL) ("Endo" or the "Company") announced today that its wholly-owned
subsidiary, Endo Health Solutions Inc. ("EHSI"), will commence offers to
exchange any and all of the outstanding unsecured 7% Senior Notes due 2019,
7.00% Senior Notes due 2020 and 7¼% Senior Notes due 2022 issued by EHSI,
which have an aggregate principal amount outstanding of $1.3 billion
(collectively, the "Existing EHSI Notes"), for new unsecured 7.00% Senior
Notes due 2019, 7.00% Senior Notes due 2020 and 7.25% Senior Notes due 2022
(collectively, the "New Endo Finance Notes"), respectively, issued by Endo
Finance LLC ("Endo Finance") and Endo Finco Inc. ("Endo Finco" and, together
with Endo Finance, the "Endo Finance Issuers") and guaranteed by Endo Limited
and certain of its direct and indirect subsidiaries (collectively, the
"Guarantors"). The exchange offers will commence on March 27, 2014 and will
expire at 11:59 p.m., New York City time, on April 23, 2014, unless extended
or terminated (the "Expiration Date"). The exchange of each series of the
Existing EHSI Notes for the corresponding series of New Endo Finance Notes
will be conducted on a par-for-par basis, subject to downward adjustment for
tenders submitted after 11:59 p.m., New York City time, on April 9, 2014 (as
it may be extended or terminated, the "Consent Date"). The terms and
conditions of the exchange offers appear in the offering documents, which will
be distributed to the holders of Existing EHSI Notes who complete and return a
letter of eligibility confirming that they are "Eligible Holders" for the
purposes of the exchange offers and the related consent solicitations. Endo
expressly reserves the right to waive these conditions in whole or in part at
any or at various times in its sole discretion.

Each series of New Endo Finance Notes will have substantially the same
economic terms as the corresponding series of outstanding Existing EHSI Notes
for which they are being offered in exchange, including interest rate,
interest payment dates, optional redemption terms, and maturity. However, the
Guarantors under each series of New Endo Finance Notes will be the same as
those that guarantee the Endo Finance Issuers' existing 5.75% Senior Notes due
2022, including the recently acquired Paladin Labs Inc., which currently does
not guarantee the Existing EHSI Notes. The covenants in the indentures
governing each series of New Endo Finance Notes will be substantially similar
to those of the Endo Finance Issuers' existing 5.75% Senior Notes due 2022.
The New Endo Finance Notes and the guarantees thereof will rank pari-passu
with all existing and future unsecured senior indebtedness of the Endo Finance
Issuers and the Guarantors.

In connection with these exchange offers, EHSI is soliciting consents to amend
the Existing EHSI Notes and the indentures governing the Existing EHSI Notes.
The proposed amendments, with respect to each series of the Existing EHSI
Notes, which require the consent of a majority in outstanding principal amount
of such series of Existing EHSI Notes, would (i) delete in their entirety
substantially all the restrictive covenants, (ii) modify the covenants
regarding mergers and consolidations and (iii) eliminate certain events of
default. Subject to certain conditions, holders of Existing EHSI Notes who
consent by the Consent Date will receive a cash payment of $5.00 per each
$1,000 principal amount of Existing EHSI Notes as to which a holder delivers a
valid consent.

The consideration offered in the exchange offers and consent solicitations is
summarized below:

                                            Aggregate

                                            Consideration,  Exchange
                             Total          Including       Consideration, in
                 Outstanding Consideration, Consent Payment Principal Amount
Existing  CUSIP  Principal   if Tendered    in Cash and     of New Endo
EHSI      No.    Amount(in   Prior to the   Principal       Finance Notes, if
Notes            millions)   Consent        Amount of New   Tendered After the
                             Date(1)(2)     Endo Finance    Consent Date and
                                            Notes, if       Prior to the
                                            Tendered Prior  Expiration Date(1)
                                            to the Consent
                                            Date(1)
                                            $1,000
                             $1,000         principal
7% Senior 29264F             principal      amount of 2019  $970 principal
Notes due AG1    $500.0      amount of 2019 New Endo        amount of 2019 New
2019                         New Endo       Finance Notes,  Endo Finance Notes
                             Finance Notes  plus $5.00 in
                                            cash
                                            $1,000
7.00%                        $1,000         principal
Senior    29264F             principal      amount of 2020  $970 principal
Notes due AE6    $400.0      amount of 2020 New Endo        amount of 2020 New
2020                         New Endo       Finance Notes,  Endo Finance Notes
                             Finance Notes  plus $5.00 in
                                            cash
                                            $1,000
7¼%                          $1,000         principal
Senior    29264F             principal      amount of 2022  $970 principal
Notes due AJ5    $400.0      amount of 2022 New Endo        amount of 2022 New
2022                         New Endo       Finance Notes,  Endo Finance Notes
                             Finance Notes  plus $5.00 in
                                            cash

1.Consideration per $1,000 principal amount of Existing EHSI Notes.
2.This does not include the consent payment in cash of $5.00 per $1,000
    principal amount of Existing EHSI Notes. The consent payment in cash is
    payable in respect of consents received prior to the Consent Date, subject
    to the satisfaction of the conditions to such payment.

EHSI's obligation to complete each exchange offer and to make the cash consent
payments pursuant to each consent solicitation is conditioned upon, among
other things, receipt of the requisite consents sufficient to effect the
proposed amendments with respect to each series of the Existing EHSI Notes.

The New Endo Finance Notes have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"), or any state or foreign securities
laws. The New Endo Finance Notes may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements of the Securities Act or any applicable state securities laws.

This press release is issued pursuant to Rule 135c under the Securities Act
and does not constitute an offer to purchase or exchange any securities or a
solicitation of any offer to sell any securities. The exchange offers will be
made only pursuant to a confidential offering document and related consent and
letter of transmittal 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.

The offering documents will only be distributed to Eligible Holders. D.F. King
& Co., Inc. is the information agent for the exchange offers, (800) 967-5079
(U.S. toll-free) or (212) 269-5550 (collect).

About Endo International plc Endo International plc (NASDAQ: ENDP) (TSX: ENL)
is a global specialty healthcare company focused on improving patients' lives
while creating shareholder value. Endo develops, manufactures, markets, and
distributes quality branded pharmaceutical, generic and device products
through its operating companies. Endo has global headquarters in Dublin,
Ireland and U.S. headquarters in Malvern, PA.

About Endo Health Solutions Inc. Endo Health Solutions Inc., headquartered in
Malvern, PA, is a wholly-owned subsidiary of Endo International plc (NASDAQ:
ENDP) (TSX: ENL), a global specialty healthcare company focused on improving
patients' lives while creating shareholder value.

Forward-Looking Statements This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "will," "may," "look forward,"
"intend," "guidance," "future" or similar expressions are forward-looking
statements. Because these statements reflect our current views, expectations
and beliefs concerning future events, these forward-looking statements involve
risks and uncertainties. Investors should note that many factors, as more
fully described under the caption "Risk Factors" in Endo's and EHSI's Form
10-K, Form 10-Q and Form 8-K filings, as applicable, with the Securities and
Exchange Commission 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 EHSI's Annual Report on Form 10-K. 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.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Endo International plc and
Endo Health Solutions Inc. business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements, see "Risk
Factors" in EHSI's Annual Report or Form 10-K for the most recently ended
fiscal year.

Website: http://www.endo.com
Contact: Investors/Media, Blaine Davis, +1-(484)-216-7158; Investors, Jonathan
Neely, +1-(484)-216-6645; Media, Brian O'Donnell, +!-(484)-216-6726
 
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