Davis Polk advised the representatives of several underwriters on an SEC-registered offering by Anthem, Inc. of $2.5 billion in aggregate principal amount of senior notes, consisting of $850 million in aggregate principal amount of 2.375% senior notes due 2025, $825 million in aggregate principal amount of 2.875% senior notes due 2029 and $825 million in aggregate principal amount of 3.700% senior notes due 2049.