Navigation Links
CVS Caremark Corporation Announces Consent Solicitation Relating to Its 6.125% Senior Notes Due August 15, 2016 (CUSIP NO. 126650 BE 9)
Date:8/9/2011

WOONSOCKET, R.I., Aug. 9, 2011 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) announced today that it is soliciting consents (the "Consent Solicitation") from the registered holders as of 5:00 p.m., New York City time on August 8, 2011 (the "Record Date") of its 6.125% Senior Notes due August 15, 2016 (the "Notes") to terminate the replacement capital covenant, which was entered into on May 25, 2007, for the benefit of the holders of the Notes in connection with the issuance of its 6.302% Enhanced Capital Advantaged Preferred Securities due 2062 (the "ECAPS").  Under the replacement capital covenant, CVS Caremark is prohibited from repurchasing, redeeming or repaying its ECAPS on or before June 1, 2047 unless a specified portion of the funds used to repay, redeem or repurchase the ECAPS are obtained by CVS Caremark through the sale of common stock or certain other equity or equity-like securities. The termination of the replacement capital covenant requires the consent of the holders of a majority in aggregate principal amount of the outstanding Notes (the "Requisite Consents").

(Logo: http://photos.prnewswire.com/prnh/20090226/NE75914LOGO)

CVS Caremark will make a cash payment to each holder of the Notes of $15.00 per $1,000 in principal amount of the Notes as to which a duly executed consent is delivered and not revoked on or prior to the expiration of the Consent Solicitation if the consent solicitation is successful and the replacement capital covenant is terminated. Consents may be revoked at any time up to the earlier of 5:00 p.m., New York City time, on August 22, 2011 and the time and date on which CVS Caremark receives the Requisite Consents.  Any consent payment due will be paid promptly after the expiration of the Consent Solicitation and termination of the replacement capital covenant. The Consent Solicitation will expire at 5:00 p.m., New York City time, on August 22, 2011, unless terminated or extended by CVS Caremark in its sole discretion. The Consent Solicitation is being made pursuant to a "Consent Solicitation Statement" dated today, which sets forth a more comprehensive description of the terms of the Consent Solicitation.  This press release is not a solicitation of consents to the proposed termination of the replacement capital covenant.  

Copies of the Consent Solicitation Statement and the consent form may be obtained by holders of the Notes from the Information and Tabulation Agent for the Consent Solicitation, D.F. King & Co., Inc., at (800) 949-2583 (toll-free).

Barclays Capital Inc. and RBS Securities Inc. are the Solicitation Agents for the Consent Solicitation.  Questions may be directed to Barclays Capital Inc., at (800) 438-3242 (toll-free) or (212) 528-7581 (collect) or RBS Securities Inc., at (877) 297-9832 (toll-free) or (203) 897-4825 (collect).

About the Company:

CVS Caremark is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. We are uniquely positioned to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country's largest pharmacy benefits managers (PBMs), we provide access to a network of approximately 65,000 pharmacies, including more than 7,300 CVS/pharmacy® stores that provide unparalleled service and capabilities. Our clinical offerings include our signature Pharmacy Advisor™ program as well as innovative generic step therapy and genetic benefit management programs that promote more cost effective and healthier behaviors and improve health care outcomes. General information about CVS Caremark is available through the Company's website at http://info.cvscaremark.com.

Forward-looking Statements:

This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company strongly recommends that you become familiar with the specific risks and uncertainties outlined under the Risk Factors section in our Annual Report on Form 10-K for the year ended December 31, 2010 and under the section entitled "Cautionary Statement Concerning Forward-Looking Statements" in our most recently filed Quarterly Report on Form 10-Q.  


'/>"/>
SOURCE CVS Caremark Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS Caremark Study Finds Non-Adherent Heart Failure Patients Almost Twice as Likely to be Re-Hospitalized Within a Year
2. CVS Caremark Data Confirms Improved Outcomes for Women with Osteoporosis Who are Adherent to Therapy
3. CVS Caremark Launches Distribution of $3 million in Free Seasonal Flu Shot Vouchers to the Unemployed
4. CVS Caremark Celebrates Outstanding Pharmacy Care to Patients During American Pharmacists Month in October
5. CVS Caremark Undertakes Multi-Year Study to Improve Patient Medication Adherence
6. CVS Caremark Announces Updates to Flu Vaccine Program
7. CVS Caremarks MinuteClinic and Allina Hospitals & Clinics Form Strategic Partnership
8. CVS Caremark Corporation Increases Quarterly Dividend 15%
9. CVS Caremarks MinuteClinic Becomes First Retail Clinic Provider to Achieve Consecutive Accreditation Awards From The Joint Commission
10. CVS Caremark Names New Chief Human Resources Officer
11. CVS Caremark Corporation Announces Quarterly Dividend
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... 7, 2017 Zimmer Biomet Holdings, Inc. (NYSE and ... that its Board of Directors has approved the payment of ... of 2017. The cash ... about October 27, 2017 to stockholders of record as of ... of dividends are subject to approval of the Board of ...
(Date:8/4/2017)... -- Agragen, LLC, a Cincinnati -based ... and aquacultural feed sectors, announces a significant step ... AGR131.  This drug is designed to trap and ... patients suffering from inflammatory conditions such as rheumatoid ... Biological pharmaceuticals currently used ...
(Date:8/2/2017)... , Aug. 2, 2017 CaryRx, a next-generation full-service ... delivery service for patients in the Washington D.C. ... retail pharmacy by providing delivery of medications through the convenience ... future delivery or delivered within one hour to any location ... excited to bring this invaluable service to Washington ...
Breaking Medicine Technology:
(Date:8/18/2017)... CA & CARMEL, IN (PRWEB) , ... August 18, 2017 , ... ... on its 36th annual list, the most prestigious ranking of the nation's fastest-growing private ... been included in the exclusive Inc. 5000 ranking . This year’s ranking reflects ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Three Narrow Roads”: a vivid and ... of published author, Rev. Dr. Burnett King Sr., is currently the pastor-teacher-visionary at Simply ... the Faith Track Club, Inc., a track-and-field program geared towards youth. , King shares, ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Kingdom Mandate for Kingdom Builders”: ... “Kingdom Mandate for Kingdom Builders” is the creation of published author, John F. ... Eastern Europe as a missionary in 1983. He spent three decades training pastors ...
(Date:8/17/2017)... ... August 17, 2017 , ... Riccobene Associates ... location in Goldsboro, NC to its family of practices. Residents of Goldsboro will ... starting August 15, 2017. , Riccobene Associates Family Dentistry, founded by Dr. ...
(Date:8/17/2017)... MA (PRWEB) , ... August 17, 2017 , ... ... will come together on September 19, 2017 for Anti-Infectives Rx. This off-the-record networking ... B. Martin Conference Center at Harvard Medical School. , Industry leaders and decision ...
Breaking Medicine News(10 mins):