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Express Scripts completes $1.40B offering of senior notes

Express Scripts Holding Co. sold $500 million of 2.600% senior notes due 2020, $400 million of floating-rate senior notes due 2020 and $500 million of 3.050% senior notes due 2022.

The 2.600% senior notes will pay interest semiannually on May 30 and Nov. 30, starting May 30, 2018, until Nov. 30, 2020. The floating rate notes will pay interest quarterly on March 1, May 30, Aug. 30 and Nov. 30, beginning March 1, 2018, until Nov. 30, 2020.

The 3.050% senior notes will pay interest semiannually on May 30 and Nov. 30, starting May 30, 2018, until Nov. 30, 2022.

Express Scripts plans to use a portion of the net proceeds to repay about $400 million of its existing five-year term loan of $2.63 billion, to fund a portion of the purchase price of the company's acquisition of privately held eviCore healthcare and for general corporate purposes.