CVS Health Commences Cash Tender Offers

(RTTNews) - CVS Health Corp. (CVS), Monday announced the commencement of cash tender offers for any and all of its 4.100 percent Senior Notes due 2025, and several other series of notes issued by its wholly owned subsidiary Aetna Inc.

With the move, the company intends to reduce its debts, and improve its financial stability.

The total purchase price for these notes, excluding accrued interest, will not exceed $2 billion.

The company will finance the purchases with proceeds from a future issuance of subordinated debt securities.

Currently, CVS Health's stock is moving down 1.47 percent, to $58.97 on the New York Stock Exchange.