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CVS Health logoCVS Health CVS

CVS Health said it entered into an Underwriting Agreement on May 7, 2024 with BofA Securities, Barclays, Goldman Sachs, J.P. Morgan Securities and Wells Fargo Securities as representatives of the underwriters.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. CVS Health said it entered into an Underwriting Agreement on May 7, 2024 with BofA Securities, Barclays, Goldman Sachs, J.P. Morgan Securities and Wells Fargo Securities as representatives of the underwriters.

  2. CVS Health agreed to issue and sell 5.400% Senior Notes due 2029 at $1,000,000,000, 5.550% notes due 2031 at $1,000,000,000, 5.700% notes due 2034 at $1,250,000,000, 6.000% notes due 2044 at $750,000,000 and 6.050% notes due 2054 at $1,000,000,000.

  3. The company said the closing of the note sale is expected to take place on May 9, 2024, subject to customary closing conditions. It said net proceeds, after underwriting discounts and estimated offering expenses, are about $4,950,251,518.

  4. The company said the notes were offered on May 25, 2023 under its Form S-3ASR registration statement (File No. 333-272200), and that it filed the Underwriting Agreement as Exhibit 1.1.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Entry into Underwriting Agreement on May 7, 2024

CVS Health said it entered into an Underwriting Agreement on May 7, 2024 with BofA Securities, Barclays, Goldman Sachs, J.P. Morgan Securities and Wells Fargo Securities as representatives of the underwriters.

Source · Based on the filing body and exhibits

Issuance of 5 Senior Notes Maturing in Multiple Years

CVS Health agreed to issue and sell 5.400% Senior Notes due 2029 at $1,000,000,000, 5.550% notes due 2031 at $1,000,000,000, 5.700% notes due 2034 at $1,250,000,000, 6.000% notes due 2044 at $750,000,000 and 6.050% notes due 2054 at $1,000,000,000.

Source · Based on the filing body and exhibits

Expected Closing Date and Net Proceeds

The company said the closing of the note sale is expected to take place on May 9, 2024, subject to customary closing conditions. It said net proceeds, after underwriting discounts and estimated offering expenses, are about $4,950,251,518.

Source · Based on the filing body and exhibits

Form S-3ASR Registration Statement and Agreement Filed as Exhibits

The company said the notes were offered on May 25, 2023 under its Form S-3ASR registration statement (File No. 333-272200), and that it filed the Underwriting Agreement as Exhibit 1.1.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.