Express Scripts’s Senior Debt Offering

Cravath represented the initial purchasers, led by Credit Suisse, Citigroup, BofA Merrill Lynch and Morgan Stanley, in connection with the US$4.1 billion 144A/Reg. S senior debt offering of Aristotle Holding, Inc., a wholly owned subsidiary of Express Scripts, Inc. Express Scripts is one of the largest Pharmacy Benefit Management companies in North America. The transaction closed on November 21, 2011.

The proceeds of the offering will be used to finance in part the proposed $29 billion acquisition of Medco Health Solutions Inc., which is expected to close in 2012.

The Cravath team included partner William J. Whelan III on corporate matters and partner Andrew W. Needham on tax matters.