New Issue: Endo Pharmaceuticals prices $400 million 7% 10-year notes at 99.105 to yield 7 1/8%

By Paul A. Harris

St. Louis, Nov. 18 - Endo Pharmaceuticals Holdings Inc. priced a $400 million issue of 7% 10-year senior notes (Ba2/BB+/) at 99.105 to yield 7 1/8% on Thursday, according to market sources.

The yield printed on top of the price talk.

J.P. Morgan Securities LLC, RBC Capital Markets Corp. and Barclays Capital Inc. were the joint bookrunners.

The Chadds Ford, Pa.-based pharmaceutical company will use the proceeds to partially finance the pending acquisition of Qualitest Pharmaceuticals or for general corporate purposes.

Issuer:	Endo Pharmaceuticals Holdings Inc.
Amount:	$400 million
Maturity:	Dec. 15, 2020
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, RBC Capital Markets Corp., Barclays Capital Inc.
Coupon:	7%
Price:	99.105
Yield:	7 1/8%
Spread:	422 bps
Call protection:	Make-whole call at Treasuries plus 50 bps until Dec. 15, 2015, then callable at a premium
Trade date:	Nov. 18
Settlement date:	Nov. 23
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Distribution:	Rule 144A and Regulation S
Price talk:	7 1/8% area
Marketing:	Brief roadshow

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