Endo, Inc. Announces Pricing of $1.5 billion of Senior Secured Term Loan as Part of Endo's $2.5 billion Exit Financing

Endo intends to use a portion of the net proceeds of the Term Loan, together with the proceeds from the Notes offering, the proceeds of the rights offerings under the Plan and cash on hand, to acquire substantially all of the assets of EIP and certain of its affiliates. EIP will use the sale proceeds to: (i) make settlement payments under the Plan, (ii) make cash distributions to first lien claimholders under the Plan, and (iii) pay certain professional fees. A portion of the proceeds will also be used by Endo for general corporate purposes.

Endo intends to use a portion of the net proceeds of the Term Loan, together with the proceeds from the Notes offering, the proceeds of the rights offerings under the Plan and cash on hand, to acquire substantially all of the assets of EIP and certain of its affiliates. EIP will use the sale proceeds to: (i) make settlement payments under the Plan, (ii) make cash distributions to first lien claimholders under the Plan, and (iii) pay certain professional fees. A portion of the proceeds will also be used by Endo for general corporate purposes.

Goldman Sachs Bank USA served as left lead arranger on the Term Loan. PJT Partners served as independent capital markets advisor to Endo on its exit financing.

About Endo, Inc.

Endo, Inc. was recently formed for the purpose of acquiring substantially all of Endo International plc's assets and assuming certain liabilities pursuant to Endo International plc's recently approved Chapter 11 plan of reorganization. Upon consummation of the plan, which is expected to occur on or around April 23, 2024, Endo, Inc. will become a diversified specialty pharmaceutical company.  Endo, Inc. will have a broad portfolio of medicines, a deep new product pipeline and will be focused on transforming insights into life-enhancing therapies. 

Forward-Looking Statements 

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Endo's financing plans, including those related to the Term Loans, the Notes offering and the use of proceeds thereof. 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 Endo's current views, expectations and beliefs concerning future events, they involve risks and uncertainties, some of which Endo may not currently be able to predict. 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 news release. 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 laws. 

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