LOUISVILLE, Ky. - Humana Inc . (NYSE: NYSE:HUM), a leading health insurance provider, has successfully completed a public offering of $2.25 billion in senior notes. The offering included $1.25 billion of 5.375 percent senior notes due in 2031 and $1 billion of 5.750 percent senior notes due in 2054.
The company disclosed that the net proceeds from the offering, which amount to approximately $2.226 billion after underwriters' discounts and estimated expenses, are intended for general corporate purposes. These may encompass repaying existing debt, such as borrowings under Humana's commercial paper program.
The offering was managed by a group of financial institutions, with 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 serving as active joint book-running managers.
This financial move was executed under an effective shelf registration statement filed with the Securities and Exchange Commission (SEC), and the securities were made available through a prospectus and related prospectus supplement.
Humana has clarified that this press release does not constitute an offer to sell the securities described, nor a solicitation for an offer to buy in any jurisdiction where such an offer or sale would be illegal before registration or qualification under the securities laws of any such state or jurisdiction.
The company also included a cautionary statement highlighting that certain forward-looking statements in the release are subject to various risks and uncertainties that could materially affect future performance. These risks include, but are not limited to, challenges in designing and pricing products competitively, managing operational and strategic initiatives, maintaining data integrity and cybersecurity, legal actions, and substantial government regulation.
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