debt
confidence high
sentiment neutral
materiality 0.60
Elevance Health closes $3B multi-tranche note offering; proceeds to refinance near-term debt
Elevance Health, Inc.
- Issued $750M 4.000% notes due 2028, $750M 4.600% notes due 2032, $1,000M 5.000% notes due 2036, $500M 5.700% notes due 2055.
- Net proceeds ~$2.973B after underwriting discounts and expenses.
- Plans to use net proceeds to repay $400M 5.350% senior notes due 2025 and $500M 4.900% senior notes due 2026, plus general corporate purposes.
- Notes are unsecured, rank pari passu; include change-of-control repurchase triggers at 101%.