CVS Health Corp. on Aug. 8 launched cash tender offers to purchase up to $4 billion of its outstanding 2020 and 2021 notes.
The U.S. pharmacy chain is offering to redeem any and all of its outstanding $2 billion of its 3.125% senior notes due 2020; and up to $2 billion of its floating rate notes due 2020 for $1,005 per $1,000 principal amount of notes; and 2.800% senior notes due 2020.
The company is also offering to redeem any and all of its 4.125% senior notes due 2021; 4.125% senior notes due 2021 issued by wholly owned subsidiary Aetna Inc.; and 5.450% senior notes due 2021 issued by Aetna-owned Coventry Health Care Inc.
CVS will also purchase up to $2 billion of its 3.350% senior notes due 2021, floating rate notes due 2021 for $1,006.50 per $1,000 principal amount of notes; and 2.125% senior notes due 2021.
The offer is scheduled to expire at 5 pm ET on Aug. 14. The settlement date is on Aug. 23.
Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as dealer managers for the tender offer, while D.F. King & Co. is acting as the tender and information agent.
