HUMANA INC (HUM): debt financing — Humana completes $1.25B debt offering to repay term loan and general corporate purposes

HUMANA INC

$500M 5.700% notes due 2026 at 99.984%; $750M 5.500% notes due 2053 at 96.431%.
Net proceeds ~$1.211B after underwriting discounts and estimated expenses.
Proceeds to repay $500M Delayed Draw Term Loan and for general corporate purposes.
As of Dec 31, 2022, term loan $500M at LIBOR+125 bps.
Lead underwriters: Barclays, Citi, Morgan Stanley, U.S. Bancorp, Wells Fargo.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HUMANA INC incurred senior notes of $500 million aggregate principal amount and $750 million aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 5.700% and 5.500% maturing March 13, 2026 and March 15, 2053.

Instrument: senior notes
Principal: $500 million aggregate principal amount and $750 million aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 5.700% and 5.500%
Maturity: March 13, 2026 and March 15, 2053
Event: incurrence

Exact text from the filing

On March 13, 2023, Humana Inc. (the “Company”) completed a public offering of $500 million aggregate principal amount of its 5.700% Senior Notes due 2026 (the “2026 Senior Notes”) and $750 million aggregate principal amount of its 5.500% Senior Notes due 2053 (the “2053 Senior Notes” and, together with the 2026 Senior Notes, the “Senior Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

HUMANA INC entered into Indentures for 5.700% Senior Notes due 2026 and 5.500% Senior Notes due 2053 with The Bank of New York Mellon Trust Company, N.A. valued at $500 million 5.700% Senior Notes due 2026 and $750 million 5.500% Senior Notes due 2053 (effective 2023-03-13).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: $500 million 5.700% Senior Notes due 2026 and $750 million 5.500% Senior Notes due 2053
Effective: 2023-03-13

Exact text from the filing

On March 13, 2023, Humana Inc. (the “Company”) completed a public offering of $500 million aggregate principal amount of its 5.700% Senior Notes due 2026 (the “2026 Senior Notes”) and $750 million aggregate principal amount of its 5.500% Senior Notes due 2053 (the “2053 Senior Notes” and, together with the 2026 Senior Notes, the “Senior Notes”).

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HUMANA INC filing history →

Source: SEC EDGAR

accession 0001193125-23-069153

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