Humana Inc. managed to overcome all of the COVID-19-related investment market upheaval this week and borrow $1.1 billion from investors.
The Louisville, Kentucky-based health insurer also added a sobering warning about the possible effects of the COVID-19 pandemic to the “Cautionary Statement” warnings at the bottom of the debt issue announcement.
- A copy of the Humana debt offering completion announcement is available here.
- An article about what COVID-19 health insurance claims could look like is available here.
Humana said it completed a public offering of $600 million in senior notes that pay an interest rate of 4.5% and are due in 2025, at 99.875% of the principal amount.
The insurer also completed a public of $500 million in senor notes that pay an interest rate of 4.75% and are due in 2030, at 99.788% of the principal amount.
Humana may use some of the proceeds to refinance existing debt, the company said.