Cigna plans to spend $9.2 billion on debt repayment in 2019 and 2020

By Devika Patel

Knoxville, Tenn., May 31 – Cigna Corp. intends to apply up to $9.2 billion of capital towards debt repayment in 2019 and 2020.

“In 2019, consistent with our priorities, we expect to deploy about $4.2 billion to debt repayment,” executive vice president and chief financial officer Eric Palmer said at the company’s investor day on Friday.

“In 2020, we plan to deploy about $4.5 billion to $5 billion for debt repayment.

“As we’ll have completed our accelerated deleveraging goal by the end of 2020, we’ll have significant optionality as we deploy our growth capital,” he said.

Cigna is a Bloomfield, Conn.-based health service company.

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