Anthem Inc. has priced a registered offering of $850 million aggregate principal amount of its 2.375% notes due 2025, $825 million aggregate principal amount of its 2.875% notes due 2029 and $825 million aggregate principal amount of its 3.700% notes due 2049.
Interest on the 2025 notes will be paid every Jan. 15 and July 15, starting Jan. 15, 2020. For the 2029 and 2049 notes, interest will be paid every March 15 and Sept. 15, starting March 15, 2020.
Net proceeds from the offerings, after deducting the underwriting discount and estimated offering expenses, are expected to be $2.47 billion. The proceeds will be used for working capital and general corporate purposes, including the repurchase of common stock, repayment of short- and long-term debt, and to fund acquisitions.
Bank of America Merrill Lynch, Goldman Sachs & Co. LLC and J.P. Morgan are joint book-running managers for all three debt offerings. Wells Fargo Securities, Barclays and Morgan Stanley are joint book-running managers on the offering of the 2025 notes, 2029 notes and 2049 notes, respectively.
The senior co-managers are Citigroup, Deutsche Bank Securities, Mizuho Securities, RBC Capital Markets, SunTrust Robinson Humphrey and U.S. Bancorp. Fifth Third Securities, HSBC, PNC Capital Markets LLC and UBS Investment Bank are acting as junior co-managers.
