3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite 1Pigure 20: Endo Pharmaceuticals lENDPl Endo Pharmaceuticals (ENDP) sweeten& cons Market Create Pr FY Q3 03 % LIM Value LTM Q4 FY FY 5mm 2015 2016 30 Wa~ OW 17 0

tory stock options. In connection with becoming a public company (achieved through a merger with a smaller, publicly traded industry participant), Endo Pharmaceuticals I loldings Inc. entered into aTRA with an I.I.0 to which certain equity own- ers contributed their shares of Endo stock. Certain employee stock opt