Express Scripts talks benchmark senior notes offering due 2021, 2026; pricing Monday

By Aleesia Forni

New York, Feb. 22 – Express Scripts Holding Co. plans to sell a benchmark offering of senior notes (Baa2/BBB+) in two tranches on Monday, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The offering is expected to include five-year notes talked in the 240 basis points area over Treasuries and 10-year notes talked in the area of 295 bps over Treasuries.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

Proceeds will be used to fund a tender offer, to fund the repurchase of common stock and for general corporate purposes.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.