Humana Prices Public Offering Of $1.25 Bln Of Senior Notes

Humana

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(RTTNews) - Humana Inc. (HUM) announced that it has priced a public offering of $1.25 billion in aggregate principal amount of senior notes.

The senior notes are comprised of $750 million of the company's 5.550 percent senior notes, due 2035, at 99.885 percent of the principal amount and $500 million of the company's 6.000 percent senior notes, due 2055, at 98.951 percent of the principal amount. The Senior Notes Offerings are expected to close on March 5, 2025, subject to the satisfaction of customary closing conditions.

The company expects net proceeds from the Senior Notes Offerings will be about $1.231 billion after deducting underwriters' discounts and estimated offering expenses.

The company plans to use the net proceeds from the Senior Notes Offerings to repay its 4.500% Senior Notes due 2025 at maturity in April 2025.

The company intends to use the remainder of the net proceeds from the Senior Notes Offering for general corporate purposes, which may include the repayment of existing indebtedness, including borrowings under its commercial paper program.