UnitedHealth Group to price fixed-rate notes in five parts

By Marisa Wong

Los Angeles, May 17 – UnitedHealth Group Inc. plans to price fixed-rate notes in five series, according to a 424B5 filing with the Securities and Exchange Commission.

Each series will feature a make-whole call and then a par call. The company will also be required to offer to repurchase the notes if a change-of-control triggering event occurs.

BofA Securities, Inc., Barclays, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.

U.S. Bank NA is the trustee.

Hogan Lovells US LLP and in-house counsel will be counsel for the company. Simpson Thacher & Bartlett LLP will be counsel to the underwriters.

Proceeds will be used for general corporate purposes, which may include refinancing short-term borrowings incurred for general corporate and working capital purposes, or redeeming, repurchasing or repaying outstanding securities. As of March 31, the company had $6.4 billion of short-term borrowings outstanding, with a weighted-average annual interest rate of 1.4%.

The health care company is based in Minnetonka, Minn.

© 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.