WOONSOCKET – CVS Health Corp. announced Monday the completion of cash tender offers for senior notes due in 2020 and 2021. A company spokesman said that the announcement reflected the first transaction to buy back debt and that there would more offers in the future.
The company bought back portions of four outstanding notes:
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- The company agreed to pay $1.3 billion on 3.125% senior notes due 2020 for CVS Health Corp. The principal outstanding had been $2 billion.
- The company will pay $328.1 million for 4.1% senior note due 2021 for CVS Health, which had outstanding principal of $550 million.
- The company accepted $297.4 million for 4.1% senior notes for Aetna Inc. due 2021. The principle outstanding had been $500 million.
- The company accepted the offer to sell for $412.8 million of its 5.5% senior notes for Coventry Health Care Inc., a wholly owned subsidiary of Aetna. The principal outstanding had been $600 million.
The company said that the tender offers expired on Aug. 14. The offer to purchase was made on Aug. 8.
CVS reported a $1.9 billion profit in the second quarter.
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