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Conyers provided Bermuda law advice to Citigroup Global Markets Inc., as lead arranger and JPMorgan Chase Bank, N.A. as administrative agent, respectively in connection with Endo International plc’s (NASDAQ: ENDP) (“Endo”) offering of US$300 million aggregate principal amount of 5.875% senior secured notes due 2024, through its wholly-owned subsidiaries Endo Designated Activity Company, Endo Finance LLC and Endo Finco Inc., and Endo’s refinancing of its existing credit facilities, with new senior secured credit facilities consisting of a revolving credit facility and a term loan facility.
Both transactions closed on 27 April 2017 and Endo will use the net proceeds from the offering, together with approximately US$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 and to pay related fees and expenses.
Jason Piney and Cathryn Minors of Conyers’ Bermuda office advised on the matter, working alongside Latham & Watkins LLP. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Endo.