The Firm recently represented the underwriters, led by Barclays Capital Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC in connection with the public offering by CVS Health Corporation of $4 billion of senior notes, consisting of $1.5 billion of 1.3% senior notes due 2027, $1.25 billion of 1.75% senior notes due 2030 and $1.25 billion of 2.7% senior notes due 2040. The offering closed August 21, 2020.
In addition, the Firm represented Barclays, Goldman Sachs and J.P. Morgan Securities LLC as dealer managers, in connection with debt tender offers by CVS Health with respect to up to $3 billion of certain tranches of senior notes due 2023 and up to $3 billion of certain traches of senior notes due 2025.
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 for the transactions included Roxane Reardon, 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).