By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, March 21 – Humana Inc. sold $750 million of 3.7% seven-year senior notes at Treasuries plus 137.5 basis points on Monday, according to a market source.
The notes priced tight to talk in the Treasuries plus 165 bps area.
The notes will have a make-whole call followed by a par call.
Noteholders will be able to exercise a change-of-control put at 101.
Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the joint bookrunning managers for the offering.
Proceeds will be used for general corporate purposes, which may include the repayment of debt, including borrowings under Humana’s commercial paper program. As of Dec. 31, 2021, the insurer’s commercial paper due within one year had a weighted average annual interest rate of 0.33%.
The health care and insurance company is based in Louisville, Ky.
| Issuer: | Humana Inc.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity date: | March 23, 2029
|
| Coupon: | 3.7%
|
| Spread: | Treasuries plus 137.5 bps
|
| Bookrunners: | Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
|
| Talk: | Treasuries plus 165 bps area
|
| Call: | Make-whole call, then par call
|
| Change-of-control put: | At 101
|
| Pricing date: | March 21
|
| Settlement date: | March 23
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
