Andeavor prices $1 billion notes in two tranches; Humana, Kingstone sell fixed-rate notes

By Devika Patel

Knoxville, Tenn., Dec. 14 – Thursday saw several new primary deals pricing, with San Antonio-based marketing, logistics and refining company Andeavor pricing a $1 billion two-tranche offering of fixed-rate senior notes due 2028 and 2048; Louisville, Ky., health care and insurance company Humana Inc. issuing an $800 million two-part sale of fixed-rate senior notes; and Kingston, N.Y., provider of property and casualty insurance products Kingstone Cos. Inc. pricing $30 million of 5.5% five-year notes.

Andeavor sold $500 million of 3.8% notes due April 1, 2028 at 99.853 to yield 3.818% with a spread of 147 basis points over Treasuries.

The company also priced $500 million of 4.5% notes due April 1, 2048 at 187 bps over Treasuries. These notes were priced at 98.574 to yield 4.588%.

Humana priced $400 million of 2.5% three-year notes at 99.946 to yield 2.519% with a spread of 60 bps over Treasuries.

The company also sold $400 million of 2.9% five-year notes at 80 bps over Treasuries. These notes were priced at 99.83 to yield 2.937%.

Kingstone priced its $30 million of 5.5% five-year senior unsecured at 99.456 to yield 5.625%.

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