CVS Health Corporation
Overview
| Deal Type | Debt Capital Markets |
|---|---|
| Size |
$2.0 Billion $750,000,000 add on Senior Notes 1,250,000,000 Senior Notes |
| Client & Transactional Partners | CVS Health Corporation | Our Role | Co-Manager |
Summary
CVS Health Corporation (“CVS” or the “Company”) priced $2.0 billion of Senior Notes in two tranches:
- $750 million of Add-on Senior Notes due 2027
- $1.25 billion of Senior Notes due 2031
The Company plans to use proceeds from the offering, along with cash on hand, to pay for the tender offer of (i) up to $1.5 billion of the Company’s 4.000% Senior Notes due 2023, 3.700% Senior Notes due 2023, and 2.800% Senior Notes due 2023; (ii) up to $1.0 billion of the Company’s 4.100% Senior Notes due 2025 and 3.875% Senior Notes due 2025; (iii) up to $1.5 billion of the Company’s 4.300% Senior Notes due 2028. KeyBanc Capital Markets acted as Co-Manager on the transaction.
