CVS Health in its $3 billion registered public offering of subordinated notes and cash tender offers for certain of its senior notes

On December 3, 2024, CVS Health (NYSE: CVS) announced that it had priced a registered public offering of $3.0 billion of subordinated notes, comprised of $2.25 billion aggregate principal amount of its 7.000% Fixed-to-Fixed Rate Series A Junior Subordinated Notes due 2055 and $750 million aggregate principal amount of its 6.750% Fixed-to-Fixed Rate Series B Junior Subordinated Notes due 2054. On December 2, 2024, CVS Health commenced a five business day cash tender offer for approximately $950 million in aggregate principal amount of its 4.100% Senior Notes due 2025 and a cash tender offer for up to $2 billion less the purchase price payable in the five business day tender offer of 10 series of its and its subsidiary Aetna Inc.’s senior notes.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to CVS Health.