Humana prepares fixed-rate senior note offering via two bookrunners

By William Gullotti

Buffalo, N.Y., March 21 – Humana Inc. is preparing a dollar-denominated offering of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call followed by a par call.

Noteholders will be able to exercise a change-of-control put at 101.

Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the joint bookrunning managers for the offering.

Bank of New York Mellon Trust Co., NA is the trustee.

Counsel for the issuer is Fried, Frank, Harris, Shriver & Jacobson LLP and for the underwriters is Simpson Thacher & Bartlett LLP.

Proceeds will be used for general corporate purposes, which may include the repayment of debt, including borrowings under Humana’s commercial paper program. As of Dec. 31, 2021, the insurer’s commercial paper due within one year had a weighted average annual interest rate of 0.33%.

The health care and insurance company is based in Louisville, Ky.

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