Endo expected to price $500 million 8.5-year senior notes Wednesday

By Paul A. Harris

Portland, Ore., June 25 – Endo Finance LLC and Endo Finco Inc., units of Endo International plc, are expected to price a $500 million offering of 8.5-year senior notes (existing ratings B1/B) Wednesday, trailing a late-morning conference call with investors, according to a syndicate source.

Citigroup Global Markets Inc. and RBC Capital Markets are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering. Credit Agricole CIB, DNB, HSBC, Mitsubishi UFJ Securities and SunTrust Robinson Humphrey Inc. are the co-managers.

The notes come with three years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

The Malvern, Pa.-based specialty health care company plans to use the proceeds for general corporate purposes, which may include acquisitions, including the acquisition of Dava Pharmaceuticals, Inc.

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