Pharmacy benefit management services provider, Express Scripts, has raised $1.5 billion in a sale of notes. The company intends to use the net proceeds to repurchase its common stock under the existing share repurchase program and for other general corporate purposes. The senior notes carry a coupon rate of 3.125% and are scheduled to mature in 2016. Credit Suisse, Citigroup, RBS, Credit Agricole, Deutsche Bank, JP Morgan, Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley, SunTrust Robinson Humphrey and Wells Fargo were the joint book-running managers of the debt offering.
Click here for the release from Express Scripts.