Humana to price two-part offering of fixed-rate senior notes

By Mary-Katherine Stinson

Lexington, Ky., Nov. 2 – Humana Inc. plans to price fixed-rate senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call option followed by a par call option. The notes will also be putable at 101 if a change-of-control triggering event occurs.

Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Truist Securities, Inc. are the joint bookrunners.

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

Fried, Frank, Harris, Shriver & Jacobson LLP will act as counsel for the issuer. Counsel to the underwriters is provided by Simpson Thacher & Bartlett LLP.

The company intends to use the proceeds for general corporate purposes, which may include the repayment of borrowings under the company’s commercial paper program. As of Sept. 30, Humana’s outstanding commercial paper had a weighted average annual interest rate of 5.58%.

Humana is a health insurance company based in Louisville, Ky.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.