Humana primes senior note offering coming in two parts

Chicago, Nov. 7 – Humana Inc. is offering senior notes in a two-part transaction, according to a 424B5 filing with the Securities and Exchange Commission.

Both notes will have make-whole call options followed by par calls a number of months before each maturity date.

Any change of control would trigger a put at 101.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and PNC Capital Markets LLC are the joint bookrunners for the SEC-registered deal.

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

In terms of counsel, Humana will use Fried, Frank, Harris, Shriver & Jacobson LLP. The bookrunners are using Simpson Thacher & Bartlett LLP.

Proceeds will be used to repay the company’s 2.9% senior notes due 2022 and its 3.15% senior notes due 2022. The remainder of proceeds will be used for general corporate purposes, which may include repaying commercial paper.

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

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