Aetna plans to redeem all $495.6 million 6.5% notes due 2018 on Dec. 3

By Tali Rackner

Norfolk, Va., Nov. 3 – Aetna Inc. plans to redeem all $495.6 million of its outstanding 6.5% notes due Sept. 15, 2018, according to a press release.

The notes will be redeemed for cash on Dec. 3 at a price that includes a make-whole premium plus accrued interest.

The aggregate amount of the make-whole premium and accrued interest that Aetna expects to pay in connection with the redemption of the notes is estimated to be roughly $591 million, according to an 8-K filing with the Securities and Exchange Commission.

The redemption will be funded with proceeds from a new notes offering.

Aetna is a Hartford-based health insurance company.

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