The investment-grade notes are due 2028, 2032, 2036 and 2055

Davis Polk advised the several underwriters on an SEC-registered offering by Elevance Health, Inc. (f/k/a Anthem, Inc.) of $3 billion in aggregate principal amount of unsecured and unsubordinated notes. The offering consisted of $750 million in aggregate principal amount of 4.000% notes due 2028, $750 million in aggregate principal amount of 4.600% notes due 2032, $1 billion in aggregate principal amount of 5.000% notes due 2036 and $500 million in aggregate principal amount of 5.700% notes due 2055.

Elevance Health is one of the largest health insurers in the United States. Elevance Health is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent health benefit plans.

The Davis Polk corporate team included partner Pedro J. Bermeo and associate Dennis Chu. Partner Michael Mollerus and associate Hunter P. Shaw provided tax advice. All members of the Davis Polk team are based in the New York office.

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