CVS Health’s $4 Billion Notes Offering

Shearman & Sterling acted as counsel to CVS Health Corporation, while Simpson Thacher represented the underwriters in connection with the public offering.

CVS Health Corporation completed the offering of $4 billion of senior notes, consisting of $750 million of 3.625% senior notes due 2027, $1.5 billion of 3.75% senior notes due 2030, $1 billion of 4.125% senior notes due 2040 and $750 million of 4.25% senior notes due 2050. The offering closed March 31, 2020.

Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Credit Suisse Securities (USA) LLC, Fifth Third Securities, Inc., PNC Capital Markets LLC, Santander Investment Securities Inc., SMBC Nikko Securities America, Inc., BNY Mellon Capital Markets, LLC, ICBC Standard Bank Plc, KeyBanc Capital Markets Inc., Loop Capital Markets LLC, TD Securities (USA) LLC, Academy Securities, Inc., and Guggenheim Securities, LLC acted as underwriters for the offering.

CVS Health is the nation’s premier health innovation company. CVS Health has approximately 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with more than 105 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year and expanding specialty pharmacy services. CVS Health also serves an estimated 37 million people through traditional, voluntary and consumer-directed health insurance products and related services, including rapidly expanding Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan.

The Simpson Thacher team advising the underwriters included Roxane Reardon (Picture), Ryan Bekkerus, Stephanie Rowan and Adriana Estor-Restrepo (Capital Markets); Jonathan Cantor (Tax); Michael R. Isby (Environmental); Melanie Jolson (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Ryan Bekkerus – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Adriana Estor-Restrepo – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Stephanie Rowan – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Academy Securities; Bank of America Securities; Barclays Capital ; BNY Mellon Capital Markets; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Fifth Third Securities, Inc.; Goldman Sachs & Co.; Guggenheim Securities; ICBC Standard Bank; J.P. Morgan Securities LLC; KeyBanc Capital Markets; Loop Capital Markets; Mizuho Securities; MUFG Securities Americas Inc. ; PNC Capital Markets LLC; RBC Capital Markets; Santander Investment Securities Inc.; SMBC Nikko Securities America; SunTrust Robinson Humphrey, Inc.; TD Securities; U.S. Bancorp Investments; Wells Fargo Securities;

Author: Ambrogio Visconti