Endo notes better on drug approval; Diebold Nixdorf trades higher as new notes offered

By James McCandless

San Antonio, July 7 – The focus of the distressed debt space shifted on Tuesday to pharmaceutical and commerce names.

Endo International plc’s notes saw better levels after the Food and Drug Administration approved its cellulite drug.

The 6% senior notes due 2028 added 3¼ points to close at 68¼ bid.

The notes saw about $7 million change hands.

Late Monday, the Dublin-based generic pharmaceutical producer announced that it had received regulatory approval of new drug Qwo to tread moderate to severe cellulite in adult women.

The company said that the product would be launched in spring 2021 due to the coronavirus pandemic.

Sector peer Mallinckrodt plc’s issues were also lifted.

Elsewhere, connected commerce name Diebold Nixdorf, Inc.’s paper rose as the company preps a dual-currency offering of five-year senior secured notes.

The 8¼% senior notes due 2024 garnered ½ point to close at 82 bid.

Starting on Tuesday, the North Canton, Ohio-based connected commerce solutions company started marketing a dual-currency offering of five-year senior secured notes that includes a $690 million tranche and €350 million tranche, Prospect News reported.

Pricing is expected on Thursday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.