The Firm recently represented the underwriters, led by BofA Securities, Inc., Barclays Capital Inc. and J.P. Morgan Securities LLC, in connection with the public offering by CVS Health Corporation (“CVS Health”) of $6 billion of Senior Notes, consisting of $1.5 billion of 5% Senior Notes due 2026, $1.5 billion of 5.125% Senior Notes due 2030, $1.75 billion of 5.25% Senior Notes due 2033 and $1.25 billion of 5.625% Senior Notes due 2053. The offering closed February 21, 2023.
CVS Health is a leading diversified health solutions company. CVS Health has more than 9,000 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with over 110 million plan members with expanding specialty pharmacy solutions and a dedicated senior pharmacy care business serving more than one million patients per year. CVS Health also serves an estimated 35 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 and Jessica Ryan (Capital Markets); Jonathan Cantor and Kris Liu (Tax); Abram Ellis, Mark Skerry and Christine Tillema (Regulatory); Pasco Struhs (Benefits); Michael R. Isby (Environmental); Melanie Jolson, Corina McIntyre and Rachelle Broida (Intellectual Property); Vanessa Burrows and Tera Rule (Healthcare); and Jennie Getsin (FINRA and Blue Sky).