The Firm recently represented the underwriters, led by BofA Securities, Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, in connection with the public offering by CVS Health Corporation (“CVS Health”) of $5 billion of Senior Notes, consisting of $1 billion of 5.400% Senior Notes due 2029, $1 billion of 5.550% Senior Notes due 2031, $1.25 billion of 5.700% Senior Notes due 2034, $750 million of 6.000% Senior Notes due 2044 and $1 billion of 6.050% Senior Notes due 2054. The offering closed May 9, 2024.
CVS Health is a leading health solutions company. CVS Health has more than 9,000 retail locations, more than 1,000 walk-in medical clinics, 205 primary care medical clinics, a leading pharmacy benefits manager with approximately 90 million plan members and expanding specialty pharmacy solutions and a dedicated senior pharmacy care business serving more than 800,000 patients per year. CVS Health also serves an estimated more than 36 million people through traditional, voluntary and consumer-directed health insurance products and related services, including expanding Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan.
The Simpson Thacher team for the transactions included Roxane Reardon, Matt Hart, Nate Yang and Jerry Du (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Alan Turner and Alexander Rabinowitz (Litigation); Abram Ellis and Christine Tillema (Regulatory); Pasco Struhs (Benefits); Michael R. Isby (Environmental); Paige Brinton (Intellectual Property); Vanessa Burrows and Jacob Madden (Healthcare); and Jennie Getsin (FINRA and Blue Sky).