UnitedHealth Group Inc. has issued four series of notes with an aggregate principal amount of $3 billion.
The company issued $750 million of 3.500% notes due Feb. 15, 2024; $300 million of 3.700% notes due Dec. 15, 2025; $850 million of 3.875% notes due Dec. 15, 2028; and $1.10 billion of 4.450% notes due Dec. 15, 2048.
The trade date was Dec. 13; the settlement date is Dec. 17.
Interest on the 3.500% notes will be payable Feb. 15 and Aug. 15 each year, starting Feb. 15, 2019. Interest on the remaining three tranches of notes will be payable June 15 and Dec. 15 each year, starting June 15, 2019.
Net proceeds, before expenses, for the 3.500% notes are about $745.5 million, for the 3.700% notes are about $298.2 million, and for the 3.875% notes are $843.3 million. The net proceeds, before expenses, for the 4.450% notes are about $1.09 billion.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, U.S. Bancorp Investments Inc., Credit Suisse Securities (USA) LLC and HSBC Securities (USA) Inc. are acting as joint book-running managers for the offering.
Senior co-managers for the offering include Barclays Capital, BB&T Capital Markets, Goldman Sachs, KeyBanc Capital Markets, Merrill Lynch Pierce Fenner & Smith, Morgan Stanley, PNC Capital Markets, RBC Capital Markets and Wells Fargo Securities.
BMO Capital Markets Corp., BNY Mellon Capital Markets LLC, Fifth Third Securities Inc., Loop Capital Markets LLC, MUFG Securities Americas Inc., Regions Securities LLC, Santander Investment Securities Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC and The Huntington Investment Co. are acting as co-managers.