This bond issuance was the third largest US corporate bond issuance in history (the others were Verizon Communication Inc.s $49 billion deal in 2013 and Anheuser-Busch InBev SA $46 billion offering in 2016). CVS issued the bonds to raise funds to pay for its planned acquisition of Aetna Inc. (Links to an external site.) for $69 billion. Regulators are not expected to approve the Aetna purchase until the second half of 2018. Answer the following questions:

What is the impact of the bond issuance on the balance sheet of CVS?

What accounts would increase or decrease?

Why do you think CVS issued bonds early if they dont need it until end of year 2018?

What if the acquisition does not go through?