Endo Outlines Creditor Deal Securing Support for Bankruptcy Plan (1)

Endo International Plc lenders have reached a deal in principle that would provide higher payouts to key creditor groups in return for their support of the bankrupt opioid manufacturer’s reorganization centered on a more than $6 billion asset sale.

Under the deal’s terms, Endo’s proposed purchasers will provide a pool of $119 million in cash to private opioid abuse claimants—within two years of the sale closing. The official committee of opioid claimants had previously complained about receiving $85 million over the course of 10 years.

In a separate deal, Endo’s unsecured creditors would receive $60 million in cash, plus a ...