Express Scripts markets three tranches of senior notes

By Cristal Cody

Tupelo, Miss., Nov. 20 – Express Scripts Holding Co. is in the deal pipeline with three tranches of guaranteed senior notes, according to 424B5 filing with the Securities and Exchange Commission on Monday.

The offering includes two fixed-rate tranches and one floating-rate tranche.

BofA Merrill Lynch, Citigroup Global Markets Inc. and Mizuho Securities USA Inc. are the bookrunners.

The notes are guaranteed by subsidiaries Express Scripts, Inc. and Medco Health Solutions, Inc.

The deal includes a 101% change-of-control put.

Proceeds will be used to repay about $500 million of outstanding principal in the company’s term loan, to fund a portion of the purchase price of its eviCore health care acquisition from CareCore National Group, LLC and for general corporate purposes.

Express Scripts Holdings is a pharmacy benefit management company based in St. Louis.

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