Endo buys $48 million of Ledgemont's 16% notes in tender offer

By Angela McDaniels

Tacoma, Wash., Oct. 5 - Endo Pharmaceuticals Holdings Inc. subsidiary Endo Pharmaceuticals Solutions Inc. purchased $48 million principal amount of 16% Ledgemont PhaRMA secured notes due 2024 on Sept. 29, according to an 8-K filing with the Securities and Exchange Commission.

The notes were issued by Ledgemont Royalty Sub LLC, a wholly owned subsidiary of Endo Pharmaceuticals Solutions.

The notes were purchased for par plus accrued interest under a tender offer that expired at 5 p.m. ET on Sept. 24.

The notes represent about 46% of the $105 million principal amount of notes that was outstanding prior to the expiration time.

Endo Pharmaceuticals is a Chadds Ford, Pa.-based maker of prescription pharmaceuticals used primarily to treat and manage pain.

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