Shearman And Sterling

News July 21, 2015

Shearman & Sterling Advises CVS Health Corporation on Acquisition Financing

Shearman & Sterling represented CVS Health Corporation in connection with a $15 billion bond offering, which is being used to finance its acquisitions of Omnicare, Inc. and the pharmacy and clinic businesses of Target Corporation. The offering consisted of six tranches: 3-year, 5-year, 7-year, 10-year, 20-year and 30-year Senior Notes.

Shearman & Sterling also advised CVS Health Corporation in connection with the establishment of a $13 billion bridge loan facility, which it had previously entered into as a backstop for the bond offering.

The Team