A large insurer is retiring some of its debt.
Aetna Inc., Hartford, says it will redeem for cash $700 million in principal owed on senior notes that pay an interest rate of 8.5% and are due 2041.
The notes will be redeemed at a price equal to 100% of the principal amount plus any interest accrued and unpaid as of June 19.
Aetna will be recording a $8 million charge in the second quarter to account for the cost of the redemption.
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