- CVS Health is selling fixed and floating-rate senior unsecured bonds in up to nine parts.
- CVS Health said it was aiming for up to $44.8 billion in new debt.
CVS Health is offering $40 billion of debt in the third-largest bond sale ever to finance its purchase of Aetna.
Here are three things to know about the offer.
1. A person familiar with the deal told CVS Health is selling fixed and floating-rate senior unsecured bonds in up to nine parts. The longest portion of the offering is a 30-year security, which could yield 1.95 percentage points higher than Treasuries.
2. Twenty lenders gave CVS Health $49 billion in bridge loans in December to temporarily finance CVS Health’s $69 billion bid for Aetna, which paved the way for the March 6 offering, according to the report.
3. During a Feb. 26 presentation, CVS Health said it was aiming for up to $44.8 billion in new debt.
Date: March 06, 2018