Oak Street Health $920 million convertible senior notes offering
We advised the initial purchasers on the Rule 144A offering
3/16/2021

Davis Polk advised the representative of the initial purchasers in a Rule 144A offering by Oak Street Health, Inc. of $920 million aggregate principal amount of 0.0% convertible senior notes due 2026, including $120 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised counterparties to capped call transactions in connection with the convertible notes offering. Oak Street Health is listed on the New York Stock Exchange under the symbol “OSH.”

Based in Chicago, Illinois, Oak Street Health owns and operates primary care centers for Medicare patients with a focus on building a care delivery platform that addresses rising costs and poor outcomes in the U.S. healthcare industry.

The Davis Polk corporate team included partners Michael Kaplan and Pedro J. Bermeo and associate Ernesto Talamás Velázquez. The equity derivatives team included partner Mark J. DiFiore and associates Michael J. Russo, Joseph Luizzi, Danielle Forni and Yini Chen. Partner Michael Farber and associate Ben Levenback provided tax advice. All members of the Davis Polk team are based in the New York office.