Anthem intends to conduct offering of fixed-rate notes in five parts

By Devika Patel

Knoxville, Tenn., Nov. 14 – Anthem, Inc. plans to offer fixed-rate notes in five tranches, according to a 424B3 filing with the Securities and Exchange Commission.

The notes, due in 2020, 2022, 2024, 2027 and 2047, will have a make-whole call until maturity for the 2020 notes, until one month prior to maturity for the 2022 notes, until two months prior to maturity for the 2024 notes, until three months prior to maturity for the 2027 notes and until six months prior to maturity for the 2047 notes, then par call for the 2022, 2024, 2027 and 2047 notes.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and UBS Securities LLC are the bookrunners.

Proceeds will be used to fund the planned acquisition of HealthSun Health Plans, Inc. and the acquisitions of Freedom Health, Inc., Optimum HealthCare, Inc. and America’s 1st Choice of South Carolina, Inc. and to fund the tender offers for any and all of the company’s 7% notes due 2019 and up to $600 million of its 5.95% notes due 2034, 5.85% notes due 2036, 6.375% notes due 2037, 5.8% notes due 2040 and 5.1% notes due 2044, to redeem any 7% notes due 2019 still remaining after the tender, for working capital and for general corporate purposes.

Indianapolis-based Anthem is a health benefits company.

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