Humana wraps amended, restated $1 billion revolving credit facility

By Aleesia Forni

Columbus, Ohio, Nov. 28 - Humana Inc. amended and restated its existing credit agreement with a $1 billion five-year unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Proceeds will be used for general corporate purposes.

Under the new agreement, the company can borrow on either a competitive advance basis or a revolving credit basis.

The facility also includes an uncommitted $250 million incremental loan facility.

As of Nov. 22, the company had no borrowings and roughly $11.6 million outstanding letters of credit under this new agreement.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc., PNC Capital Markets LLC, U.S. Bank NA and Wells Fargo Securities LLC are joint lead arrangers and joint bookrunners.

JPMorgan Chase Bank NA is agent with CAF as loan agent. Bank of America NA is syndication agent.

Citibank NA, PNC Bank NA, U.S. Bank NA and Wells Fargo Bank NA were documentation agents.

Humana is a Louisville, Ky.-based provider of health and supplemental benefit plans.

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