Humana Inc. (the “company”) (NYSE: HUM) announced today that it has priced a public offering of $1.35 billion in aggregate principal amount of senior notes. These senior notes are comprised of $500 million of the company’s 5.750 percent senior notes, due 2028, at 99.830 percent of the principal amount, and $850 million of the company’s 5.950 percent senior notes, due 2034, at 98.525 percent of the principal amount (collectively, the “Senior Notes Offerings”). The Senior Notes Offerings are expected to close on November 9, 2023, subject to the satisfaction of customary closing conditions.
The company expects net proceeds from the Senior Notes Offerings will be approximately $1.324 billion after deducting underwriters’ discounts and estimated offering expenses. The company intends to use the net proceeds from the Senior Notes Offerings for general corporate purposes, which may include the repayment of existing indebtedness, including borrowings under its commercial paper program.
Barclays Capital Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Truist Securities, Inc. are acting as active joint book-running managers for the Senior Notes Offerings.
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