CVS Health Corporation
CVS Health Announces Issuance of $3 Billion in Junior Subordinated Notes
Summary
On December 3, 2024, CVS Health Corporation announced the issuance of $2,250,000,000 in 7.000% Series A Junior Subordinated Notes due 2055 and $750,000,000 in 6.750% Series B Junior Subordinated Notes due 2054 through an Underwriting Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., and Goldman Sachs & Co. LLC. The sale is expected to close on December 10, 2024, with net proceeds to the company estimated at approximately $2,963,075,700 after discounts and expenses.
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About CVS Health Corporation
CVS Health Corporation is a leading health services company in the United States, offering a comprehensive range of services aimed at improving healthcare accessibility and convenience. Primarily known for its extensive network of pharmacies, CVS Health operates thousands of retail locations nationwide. These outlets provide prescription medications, over-the-counter drugs, health and wellness products, and immunization services. Beyond retail, CVS Health plays a significant role in the healthcare sector through its pharmacy benefit management division, Caremark, which administers prescription drug plans for insurers and employers. Additionally, the company owns Aetna, a major health insurance provider, aligning its services across retail, pharmacy benefits, and insurance solutions to deliver integrated healthcare experiences. With its broad reach and diverse healthcare offerings, CVS Health Corporation holds a critical place in the healthcare market, continuously working to streamline and enhance the delivery of medical services across the country.
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