Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Endo’s Junior Bondholders Offer Deals to Head Off Bankruptcy (1)

June 27, 2022, 6:24 PM

Drugmaker Endo International Plc doesn’t need to file bankruptcy to resolve its financial troubles, a group of junior bondholders told the company, which is under pressure because of its alleged role in America’s opioid epidemic.

The unsecured noteholders, who face steep losses on their holdings, are pushing to restructure Endo’s debt without seeking court protection. That’s the path taken by Purdue Pharma LP and Mallinckrodt Plc, which filed for bankruptcy to deal with lawsuits accusing them of making the opioid addiction epidemic worse.

Endo should consider buying back debt, or exchanging old debt for new securities, the group said ...