By Andrea Heisinger
New York, May 12 - Cigna Corp. priced $300 million of 5.125% 10-year senior unsecured notes on Wednesday to yield 162.5 basis points over Treasuries, a source close to the deal said.
The notes (Baa2/BBB/BBB) priced at 99.474 to yield 5.192%.
The notes have a make-whole call at Treasuries plus 25 bps and feature a change-of-control put at 101%.
Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and UBS Investment Bank were the bookrunners.
Proceeds are being used for general corporate purposes.
The health services company is based in Philadelphia.
| Issuer: | Cigna Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $300 million
|
| Maturity: | June 15, 2020
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank Securities Inc., UBS Investment Bank
|
| Coupon: | 5.125%
|
| Price: | 99.474
|
| Yield: | 5.192%
|
| Spread: | Treasuries plus 162.5 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Change-of-control put: | 101%
|
| Trade date: | May 12
|
| Settlement date: | May 17
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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