Less than three years after Mallinckrodt plc filed for bankruptcy protection to reorganize its finances in a manner that would allow for repayment of its debts and payouts under opioid litigation settlements, the company announced on 23 August that it has entered into another restructuring support agreement (RSA) with its debt holders and the Opioid Master Disbursement Trust II, which will be facilitated by bankruptcy proceedings. At the end of the process, it will no longer be a public company.
Mallinckrodt said the RSA will allow it to reduce its debt by $1.9bn, increase cash flow generation, extend the maturity of its debts and better position the company for long-term success. The agreement provides a final $250m payment to the trust in addition to $450m previously paid
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