Item 1.01 Entry into a Material Definitive Agreement.
Amendment and Waiver Agreement
On
December 22, 2016, Meda AB (publ) (Meda), a subsidiary of Mylan N.V. (the Company), entered into the Amendment and Waiver Agreement (the Amendment) to the Loan Agreement dated as of September 17, 2014
(as amended by the Amendment, the Loan Agreement), between Meda, as borrower, and AB Svensk Exportkredit (publ), as lender (the Lender). The Amendment provides for (i) the deletion of the covenant limiting indebtedness
of Medas subsidiaries and the covenant requiring Meda to deliver its consolidated quarterly and annual financial statements to the Lender; (ii) the modification of the covenant limiting asset dispositions by Meda and its subsidiaries to
permit any dispositions other than those that could reasonably be expected to jeopardize Medas ability, or the Companys ability pursuant to the guarantee described below, to fulfill its obligations under the Loan Agreement;
(iii) the deletion of the financial maintenance covenants applicable to Meda; (iv) the waiver of compliance by Meda with the financial maintenance covenants applicable to Meda and the related reporting requirements for the fiscal quarter
ending September 30, 2016; (v) the waiver of any put rights arising in connection with the Companys acquisition of a majority of the issued share capital in Meda or any action taken in connection therewith; (vi) the modification
of the change of control definition to provide that a change of control will occur under the Loan Agreement if (a) the Company fails to, directly or indirectly, own all or substantially all of the issued share capital or votes in Meda or
(b) any person (other than Stichting Preferred Shares Mylan) acquires more than 50% of the issued share capital or votes in the Company; (vii) the modification of the covenant limiting mergers by Meda and its subsidiaries to permit mergers
with the Company and its subsidiaries; and (viii) the modification of the cross default and insolvency default provisions in the Loan Agreement to conform with the cross default and insolvency default provisions in the Companys existing
credit agreements disclosed in the Current Report on Form 8-K dated November 29, 2016.
The Lender has, from time to time, performed,
is currently performing and may in the future perform, various financial advisory and commercial and investment banking services for the Company and Meda, for which it received or will receive customary fees and expenses.
Guarantee Agreement
Concurrent
with, and as a condition to, the effectiveness of the Amendment, the Company and Meda entered into the Guarantee Agreement, dated as of December 22, 2016 (the Guarantee), among Meda, the Company and the Lender. Under the Guarantee,
the Company guarantees the payment and performance of all obligations, including repayment of the SEK 2,000,000,000 loan, of Meda under the Loan Agreement (collectively, the Obligations). The Guarantee and the obligations of the Company
thereunder will automatically terminate upon the payment in full of the Obligations.
MTN Guarantee
On December 20, 2016, the Company issued a guarantee (the MTN Guarantee) in favor of each of the holders of the 2013/2018 SEK
600,000,000 floating rate notes and 2014/2019 SEK 750,000,000 floating rate notes (collectively, the Notes) issued by Meda. Under the MTN Guarantee, the Company guarantees the fulfillment of Medas obligations to the holders of the
Notes according to the terms and conditions of the Notes, including payment of interest in accordance with the terms and conditions of the Notes and the repayment of the principal on the respective maturity date of the Notes. The MTN Guarantee and
the obligations of the Company thereunder will automatically terminate upon the payment in full of the Notes.