Mallinckrodt plc Consummates Exchange Agreement With Noteholders

Paul, Weiss represented an ad hoc committee of noteholders of Mallinckrodt plc in the consummation of an exchange agreement with Mallinckrodt and certain of its subsidiaries. The exchanging holders agreed to a private exchange of approximately $495 million aggregate principal amount of their 4.875% senior notes due 2020 for new 10.000% first lien senior secured notes due 2025 at a rate of $1,000 of new notes for every $1,000 of existing notes exchanged.

The Paul, Weiss team included, among others, restructuring partners Andrew Rosenberg and Alice Eaton, and counsel Claudia Tobler.