LOUISVILLE, Ky. - Humana Inc . (NYSE: NYSE:HUM), a health insurance company, has announced the pricing of its public offering of senior notes totaling $2.25 billion. The offering is divided into two tranches: $1.25 billion in 5.375 percent senior notes due 2031 and $1 billion in 5.750 percent senior notes due 2054. The transaction is expected to conclude on March 13, 2024, subject to customary closing conditions.
The company anticipates net proceeds of approximately $2.226 billion after underwriting discounts and estimated offering expenses. These funds are intended for general corporate purposes, which may include repaying existing debt, such as borrowings under Humana's commercial paper program.
Active joint book-running managers for the offering include Citigroup Global Markets Inc., Goldman Sachs & Co (NYSE:GS). LLC, Morgan Stanley & Co (NYSE:MS). LLC, PNC Capital Markets LLC, and Wells Fargo Securities, LLC. The offering is made through an effective shelf registration statement filed with the Securities and Exchange Commission (SEC), with prospectus and related prospectus supplement available upon request from the managing banks or on the SEC's website.
The company, known for its health and wellness services, aims to provide a better quality of life for its customers, which include individuals with Medicare and Medicaid, families, military personnel, and communities at large. This news article is based on a press release statement from Humana Inc.
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