Davis Polk is advising Aetna Inc. on a $2 billion senior unsecured bridge loan facility in connection with its acquisition of Coventry Health Care, Inc. The bridge facility is being arranged by Goldman Sachs Bank USA, UBS Securities LLC and UBS Loan Finance LLC. The facility would be available to Aetna to pay a portion of the cash consideration used for its purchase of Coventry Health Care, Inc. in the event Aetna has not completed a planned senior notes offering prior to the closing of the acquisition.
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 36.7 million people with information and resources to help them make better informed decisions about their health care. Coventry Health Care is a diversified national managed health care company based in Bethesda, Maryland, dedicated to delivering high-quality health care solutions at an affordable price.
The Davis Polk credit team includes partner Jason Kyrwood and associate Darren Mahone. Partner Richard J. Sandler is providing capital markets advice. All members of the Davis Polk team are based in the New York office.
