Endo Creditors Offer U.S. Government $465 Million to Push Sale Forward

null By Jodi Xu KleinUpdated Nov. 21, 2023 10:35 pm ETEndo filed for bankruptcy in August 2022. Photo: Kristoffer Tripplaar/Sipa Press/Associated PressA group of lenders at Endo International made a new proposal that would pay up to $465 million to the U.S. government agencies that objected to the bankrupt pharmaceutical company’s restructuring plan to hand control to the creditors. Endo’s first-lien debtholders said the government agencies would receive $365 million over 10 years, according to a filing on Monday. The unpaid amount will be paid out ahead of other debts in case the restructured company files for bankruptcy again. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Continue reading your article witha WSJ subscriptionSubscribe NowAlready a subscriber? Sign InSponsored OffersKohl's: Black Friday Savings: 15% off with Kohl's promo codeWalmart: $25 Off Walmart Promo Code | Valid on Any $50 OrderTarget: Take 20% Off Your Entire Or

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Opinion Nov 22, 2023 Add to Reading List

Endo Creditors Offer U.S. Government $465 Million to Push Sale Forward

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Jodi Xu Klein

Updated Nov. 21, 2023 10:35 pm ET

Endo filed for bankruptcy in August 2022. Photo: Kristoffer Tripplaar/Sipa Press/Associated Press

A group of lenders at Endo International made a new proposal that would pay up to $465 million to the U.S. government agencies that objected to the bankrupt pharmaceutical company’s restructuring plan to hand control to the creditors.

Endo’s first-lien debtholders said the government agencies would receive $365 million over 10 years, according to a filing on Monday. The unpaid amount will be paid out ahead of other debts in case the restructured company files for bankruptcy again.