Endo Pharmaceuticals to start roadshow Tuesday for $700 million notes

By Paul A. Harris

Portland, Ore., May 26 - Endo Pharmaceuticals Holdings Inc. will begin a roadshow on Tuesday for a $700 million offering of senior notes (/expected BB-/), according to an informed source.

The maturity and call structure of the deal remain to be determined.

A global investor call is set for Wednesday.

The deal is expected to price on June 3.

Bank of America Merrill Lynch, Morgan Stanley & Co., Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are the joint bookrunners for the Rule 144A with registration rights and Regulation S offering.

Barclays Capital Inc. and RBC Capital Markets are the co-managers.

The notes feature a 101% poison put.

Proceeds, along with cash on hand and proceeds from the new $2.9 billion credit facility, will be used to finance the acquisition of American Medical Systems and refinance AMS debt and Endo's existing credit facility.

Endo is a Chadds Ford, Pa.-based specialty health care company.

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