CVS Corporation Announces Pricing of $1.5 Billion of Unsecured 5-Year and 10-Year Senior Notes.WOONSOCKET, R.I. -- CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corporation (NYSE NYSE See: New York Stock Exchange : CVS) announced today the pricing of $800 million aggregate principal amount of 5.750% unsecured senior notes due 2011 at an original issue price of 99.820% and $700 million aggregate principal amount of 6.125% unsecured senior notes due 2016 at an original issue price of 99.616%. The notes will be general unsecured senior obligations of CVS Corporation and will rank equally in right of payment with all other unsecured and unsubordinated debt Unsubordinated Debt A loan or security that ranks above other loans or securities with regard to claims on assets or earnings. Also known as a senior security. Notes: of the Company. The offering is expected to close on or about August 15, 2006. The Company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering to repay a portion of its commercial paper borrowings, including a portion of the amounts issued to finance the acquisition of approximately 700 drugstores and a related distribution center from Albertson's, Inc. This announcement is neither an offer to sell nor a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any of these securities. The offering of these securities is being made only by means of the prospectus supplement and accompanying prospectus which is part of a registration statement that CVS Corporation filed with the SEC utilizing a "shelf" registration process, copies of which can be obtained by way of a request to CVS Corporation's contacts noted above. |
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