Davis Polk advised CVS Caremark Corporation on its $1.5 billion registered offering of $550 million aggregate principal amount of 4.125% senior notes due 2021 and $950 million aggregate principal amount of 5.75% senior notes due 2041. Barclays Capital Inc., J.P. Morgan Securities LLC, BNY Mellon Capital Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

Headquartered in Woonsocket, Rhode Island, CVS Caremark, together with its subsidiaries, is the largest pharmacy health care provider in the United States. 

The Davis Polk team included partner Deanna L. Kirkpatrick and associates Eilleen J. Park and Kristen L. Haase. The tax team included partner Michael Mollerus and associate Patrick E. Sigmon (not yet admitted). Jack S. Keating was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.