Summary
UnitedHealth Group Inc. (UNH) announced on February 14, 2011, its intention to issue and sell a total of $750 million in senior notes. This offering consists of $400 million in 4.70% Notes due February 15, 2021, and $350 million in 5.95% Notes due February 15, 2041. The issuance was formalized through an Underwriting Agreement and a Pricing Agreement with several prominent underwriters, including Barclays Capital Inc., Deutsche Bank Securities Inc., UBS Securities LLC, and Wells Fargo Securities, LLC. These notes were issued under the company's existing Indenture dated February 4, 2008, and were registered under the Securities Act of 1933 via a shelf registration statement. This debt issuance is a standard corporate finance action, likely aimed at managing the company's capital structure, funding general corporate purposes, or refinancing existing debt. Investors should note the specific coupon rates and maturity dates as these influence the yield and duration of their investment.
Key Highlights
- 1UnitedHealth Group is issuing $400 million in 4.70% Notes due 2021.
- 2UnitedHealth Group is issuing $350 million in 5.95% Notes due 2041.
- 3The total aggregate principal amount of notes offered is $750 million.
- 4The issuance is backed by an Underwriting Agreement and a Pricing Agreement with multiple investment banks.
- 5The notes were issued under the company's existing Indenture dated February 4, 2008.
- 6The debt issuance is registered under the Securities Act of 1933 via a shelf registration statement.
- 7The issuance was effective on February 17, 2011.