Shearman And Sterling

News March 31, 2020

CVS Health’s $4 Billion Bond Offering

Shearman & Sterling advised CVS Health Corporation on its $4 billion bond offering. Barclays Capital Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC acted as joint book-running managers on the bond offering.

CVS Health’s $4 billion bond offering consisted of $750 million 3.625 percent senior notes due 2027, $1.5 billion 3.750 percent senior notes due 2030, $1 billion 4.125 percent senior notes due 2040 and $750 million 4.250 percent senior notes due 2050. Proceeds from the notes offering will be used for general corporate purposes, which may include working capital and capital expenditures and repayment of indebtedness.

The Team