Nachrichten August 24, 2021

CVS Health’s $1 Billion Bond Offering and Related Cash Tender Offer

Shearman & Sterling advised CVS Health on its $1 billion bond offering and related $2.05 billion cash tender offer for its outstanding 4.300 percent senior notes due 2028. Barclays Capital, BofA Securities, and J.P. Morgan Securities acted as representatives of the underwriters on the bond offering. Barclays Capital, Goldman Sachs & Co. and Wells Fargo Securities acted as dealer managers for the tender offer.

CVS Health issued $1 billion aggregate principal amount of 2.125 percent senior notes due 2031. Proceeds from the bond offering, together with cash on hand, were used to repurchase $2.05 billion of its outstanding 4.300 percent senior notes due 2028 tendered in the cash tender offer.

The Shearman & Sterling team below included Stella Sun and Matthew Brown.

The Team