Humana announced the completion of a $1.0 billion public offering of fixed-to-fixed rate junior subordinated notes due 2056. The notes were issued at 6.625% of the principal amount.

The company expects to receive approximately $986 million in net proceeds after underwriting discounts and expenses. Humana said the funds will be used for general corporate purposes, including the possible repayment of existing debt such as borrowings under its commercial paper program.

The offering was managed by several financial institutions acting as joint book-running managers, including Goldman Sachs, JPMorgan, Mizuho Securities, Truist Securities and Wells Fargo Securities.
Business Wire