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Health Net Extends Exchange Deadline

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NU Online News Service, Sept. 28, 11:35 a.m. – Health Net Inc., Los Angeles, says it?fs extending the expiration date for its offer to exchange $400 million in notes that are registered with the U.S. Securities and Exchange Commission for $400 million in similar notes that are not registered with the SEC.

Registered notes are easier to re-sell to U.S. retail customers.

Both the registered and unregistered notes are due in 2011 and pay an interest rate of 8.375%.

The exchange offer was set to expire at 5 p.m. Sept. 27. The offer will now expire at 5 p.m. Oct. 3.

Except for the extension of the expiration date, all of the other terms of the exchange offer remain as the same.