By Andrea Heisinger
Omaha, Nov. 29 - Aetna Inc. priced $700 million in 6.75% 30-year senior notes Thursday to yield 245 basis points more than Treasuries, an informed source said.
The notes priced in line with price talk.
The notes (A3/A-/A) priced at 99.322 to yield 6.803%.
There is a make-whole call at Treasuries plus 40 bps.
Bookrunners were Goldman Sachs and Morgan Stanley.
Proceeds will be used to repay outstanding commercial paper and possibly for share repurchase.
The health insurance company is based in Hartford, Conn.
| Issuer: | Aetna Inc.
|
| Issue: | Senior notes
|
| Amount: | $700 million
|
| Maturity: | Dec. 15, 2037
|
| Bookrunners: | Goldman Sachs, Morgan Stanley
|
| Coupon: | 6.75%
|
| Price: | 99.322
|
| Yield: | 6.803%
|
| Spread: | Treasuries plus 245 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Price talk: | 245 bps
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
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