CVS Caremark increases size of tender offer amount

WOONSOCKET, R.I. — CVS Caremark has upped the size of its previously announced tender offers to refinance a portion of its debt.

The company stated that it will buy back up to $1.33 billion in notes, up from the previously announced $1 billion.

"Through this transaction as well as our recent debt issuance, we are taking advantage of the current favorable interest rate environment.  This debt refinancing will enhance our long-term debt structure and decrease our interest expense going forward,” stated Dave Denton, EVP and CFO of CVS Caremark.