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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Medcohealth Solutions Common Stock | NYSE:MHS | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 70.30 | 0.00 | 01:00:00 |
Aristotle Holding Inc. is offering a private deal of senior notes of a benchmark amount, the company announced Monday. A benchmark amount is $500 million.
The four-part deal features three-year, five-year, 10-year and 30-year maturities, according to a person familiar with the deal.
The Delaware-based company is using the proceeds to pay stockholders of Medco Health Solutions Inc. (MHS), in connection with the merger, announced July 20, 2011, in which Express Scripts Inc. (ESRX), a pharmacy benefit management company, and Medco, will each become wholly-owned subsidiaries of Aristotle.
If the planned merger doesn't go through, Aristotle will redeem the notes on April 20, 2012, at a price of 101.
Leading managers on the deal include Bank of America Merrill Lynch, Citi, Credit Suisse, and Morgan Stanley. Supporting banks include Bancolombia S.A., Deutsche Bank, RBS, and Scotiabank.
The offering is expected to be rated Baa3 by Moody's Investors Service, BBB-plus by Standard & Poor's, and BBB by Fitch Ratings.
According to the company's press release, Aristotle will be renamed "Express Scripts Holding Company" upon completion of the merger, and will become a publicly traded corporation.
-By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@dowjones.com
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