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CVS Health’s USD5 billion bond offering

CVS Health’s USD5 billion bond offering
Published Date
May 9 2024
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A&O Shearman advised CVS Health Corporation (CVS Health) on its USD5 billion bond offering. BofA Securities, Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers on the bond offering.

CVS Health’s $5 billion bond offering consisted of $1 billion 5.400% Senior Notes due 2029, $1 billion 5.550% Senior Notes due 2031, $1.25 billion 5.700% Senior Notes due 2034, $750 million 6.000% Senior Notes due 2044, and $1 billion 6.050% Senior Notes due 2054. The net proceeds from the offering are being used for general corporate purposes, which may include working capital, satisfying statutory capital requirements for CVS Health’s regulated entities, capital expenditures and repayment of indebtedness, which may include the aggregate principal amounts outstanding of CVS Health’s senior notes that mature in 2024.

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