Express Scripts pricing three-part senior notes offer on Monday

By Aleesia Forni

Virginia Beach, June 2 - Express Scripts Holding Co. plans to sell senior notes (Baa3/BBB+/) in three tranches on Monday, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The sale is expected to include three-year notes talked in the 60 basis points over Treasuries area, five-year notes talked in the Treasuries plus 85 bps area and 10-year notes talked in the area of 120 bps over Treasuries.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBS Securities Inc. are the joint bookrunners.

Proceeds will be used to repay the company's 2.75% senior notes due 2014, to redeem its 3.5% senior notes due 2016 and for general corporate purposes.

Express Scripts is a St. Louis-based pharmacy benefit management provider.

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