Summary by Moomoo AI
CVS Health announced on December 2, 2024, the commencement of cash tender offers for its outstanding senior notes in two categories. The first is an any-and-all offer for 4.100% Senior Notes due 2025, while the second targets multiple series of notes with a combined purchase price not exceeding $2 billion, less amounts paid for the 2025 notes.The tender offers cover various series of notes issued by both CVS Health and its subsidiary Aetna Inc., with maturities ranging from 2030 to 2050. The Maximum Tender Offer includes ten different series of notes, prioritized by acceptance levels, with interest rates varying from 1.750% to 5.050%. The company plans to fund these purchases through the issuance of new subordinated debt securities.For the Maximum Tender Offer Notes, holders who tender by December 13, 2024, will receive the Total Consideration including an Early Tender Payment of $30 per $1,000 principal amount. The settlement date for Any and All Notes is expected to be December 11, 2024, while the Early Settlement Date for Maximum Tender Offer Notes could be as early as December 18, 2024.
