UnitedHealth Group Inc. agreed to sell $750.0 million of its 3.450% notes due Jan. 15, 2027, and $750.0 million of its 4.200% notes due Jan. 15, 2047.
The trade date was Dec. 15, and the settlement date is Dec. 20.
The 3.450% notes priced at 99.896%, plus any accrued interest from Dec. 20; and the 4.200% notes priced at 99.253%, plus any accrued interest from Dec. 20. Net proceeds, before expenses, for the 3.450% notes is about $745.8 million, while net proceeds, before expenses, for the 4.200% notes is about $738.8 million.
Interest will be payable Jan. 15 and July 15 each year, starting July 15, 2017.
Merrill Lynch Pierce Fenner & Smith Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint book-running managers for the offering. The co-managers are Academy Securities Inc., Barclays Capital Inc., BB&T Capital Markets, BMO Capital Markets Corp., BNY Mellon Capital Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Fifth Third Securities Inc., Goldman Sachs & Co., KeyBanc Capital Markets Inc., Loop Capital Markets LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, Regions Securities LLC, SunTrust Robinson Humphrey Inc., Huntington Investment Co., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.