Aetna gets $16.2 billion bridge loan commitment from Citigroup, UBS

By Marisa Wong

Madison, Wis., July 8 – Aetna Inc. entered into a commitment letter on July 2 with Citigroup Global Markets Inc., UBS AG, Stamford Branch and UBS Securities LLC for up to $16.2 billion under a 364-day senior unsecured bridge loan, according to an 8-K filing with the Securities and Exchange Commission.

The bridge loan facility will be used to finance Aetna’s acquisition of Humana Inc. in the event that Aetna has not received any combination of senior notes, senior unsecured term loans or commercial paper in an aggregate principal amount of at least $16.2 billion prior to completion of the merger.

Aetna is a health care benefits company based in Hartford, Conn.

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