WHITE PLAINS, NY / ACCESSWIRE / October 30, 2024 / Matthew Dundon, acting in his capacity as the GUC Trustee of the Endo GUC Trust (the "Trust") announced today that it has commenced a distribution of Class A Units of beneficial interests in the Trust and cash to those former holders of second lien and unsecured notes (the "Notes") issued by Endo International plc and certain of its affiliates (the "Debtors") who have timely tendered their escrow positions and complied with all other requirements to receive the Class A Units pursuant to the chapter 11 plan (the "Plan") confirmed in the bankruptcy cases of the Debtors and the Endo GUC Trust Agreement (the "Trust Agreement").
A maximum of 170 million Class A Units are issuable by the Trust. Class A-1 Units are issuable to former holders of Notes who timely certified that they are qualified institution buyers, and Class A-2 Units are issuable to former holders of Notes who timely certified that they are accredited institutional investors, as those investor statuses are defined in the Trust Agreement. Former holders of Notes who certified that they are neither qualified institutional buyers nor accredited institutional investors are eligible to receive Class A-3 Units. All Class A Units entitle their holders to the same distributions of cash from the Trust on a per unit basis. The initial distribution of cash to holders of Class A Units is approximately $0.1370588 per unit, for a total distribution of approximately $23.3 million, less amounts deducted for unclaimed distributions.
The following table provides information regarding the issuance of the Class A Units and related cash distribution:
Series of Notes |
Pre-Unit Issuance Contra CUSIP |
Unit Issuance Rate per $1,00 of Principal Amount |
Rate of Initial Cash Distribution per $1,000 Principal Amount |
9.5% Second Lien Notes due 2027 |
29299BAG9 |
76.2607884 |
$10.45 |
29299BAH7 | |||
29299BAJ3 | |||
5.375% Senior Unsecured Notes due 2023 |
29299BAK0 |
72.8460022 |
$9.98 |
29299BAL8 | |||
29299BAM6 | |||
6.0% Senior Unsecured Notes due 2028 |
29299AZW9 |
73.0663029 |
$10.01 |
29299AZX7 | |||
29299AZY5 | |||
6.0% Senior Unsecured Notes due 2023 |
29299AZZ2 |
72.8964473 |
$9.99 |
29299BAB0 | |||
29299BAC8 | |||
6.0% Senior Unsecured Notes due 2025 |
29299BAD6 |
74.38733222 |
$10.20 |
29299BAE4 | |||
29299BAF1 |
Distributions of the Class A-1 Units and the Class A-2 Units and the initial cash distribution thereon were made beginning on October 25, 2024 through customary Depository Trust Company ("DTC") procedures. The CUSIP number for the Class A-1 Units is 29281F105 and the CUSIP number for the Class A-2 Units is 29281F113.
The Class A-3 Units represent the right to receive distributions from the Trust, are non-transferrable and do not constitute securities. Class A-3 Units will be reflected on a register maintained by Equiniti Trust Company, LLC, the Trust's transfer agent. Cash distributions on the Class A-3 Units will be made by Stretto, Inc., the Trust's distribution agent, by wire transfer in accordance with the banking information provided by the holders to the Trust.
As the Class A-1 Units and Class A-2 Units are subject to significant transfer restrictions, the Trust suggests any person who desires to transfer or receive by transfer any Class A-1 Units and Class A-2 Units consult with qualified advisers concerning compliance with such restrictions. As noted, the Class A-3 Units are non-transferable.
Further information regarding the Trust and documents related to the Class A Units, including the Plan and the Trust Agreement, can be found at www.EndoGUCTrust.com .
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Contact: Joshua Nahas, jn@dundon.com , (914) 341-1188.
SOURCE: Dundon Advisers LLC
View the original press release on accesswire.com
