Humana completes $1 billion junior subordinated notes offering

Humana Inc. (NYSE: HUM) completed a public offering of $1 billion in aggregate principal amount of fixed-to-fixed rate junior subordinated notes due 2056, the health insurer announced.

The notes carry an interest rate of 6.625 percent of the principal amount. The company expects net proceeds of approximately $986 million after deducting underwriters' discounts and estimated offering expenses.

Humana plans to use the net proceeds for general corporate purposes, which may include repaying existing debt, including borrowings under its commercial paper program.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC served as active joint book-running managers for the offering.

The offering was conducted under an effective shelf registration statement filed with the Securities and Exchange Commission. The transaction was completed through a prospectus and related prospectus supplement.

The information is based on a company press release statement.

You May Also Be Interested In

• Sky Harbour secures $20M borrowing for Miami-Opa Locka airport project
• Walmart and Sam's Club cut prices on summer groceries and essentials
• Semtech secures $360M revolving credit facility with Morgan Stanley