New Issue: Aetna prices $750 million 3.5% 10-year senior notes at Treasuries plus 120 bps

By Aleesia Forni

Virginia Beach, Nov. 3 – Aetna Inc. priced $750 million of 3.5% senior notes (Baa2/A/A-) due 2024 at Treasuries plus 120 basis points, according a FWP filing with the Securities and Exchange Commission.

The notes priced at 99.581 to yield 3.55%.

The joint bookrunners were Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used to redeem all of the company’s outstanding 6.5% senior notes due 2018.

The diversified health care benefits company is based in Hartford, Conn.

Issuer:	Aetna Inc.
Amount:	$750 million
Description:	Senior notes
Maturity:	Nov. 15, 2024
Bookrunners:	Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
Senior co-managers:	U.S. Bancorp Investments, Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., BofA Merrill Lynch, MUFG, Morgan Stanley & Co. LLC, RBS Securities Inc., SunTrust Robinson Humphrey, Inc., UBS Securities LLC
Co-managers:	BNY Mellon Capital Markets, LLC, Fifth Third Securities, Inc., HSBC Securities (USA), Inc., PNC Capital Markets LLC
Coupon:	3.5%
Price:	99.581
Yield:	3.55%
Spread:	Treasuries plus 120 bps
Make-whole call:	Treasuries plus 20 bps prior to Aug. 15, 2024, then callable at par
Trade date:	Nov. 3
Settlement date:	Nov. 10
Ratings:	Moody’s: Baa2
	Standard & Poor's: A
	Fitch: A-

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