Humana Inc. has closed the public offerings of $500 million of its 3.125% senior notes due 2029 and $500 million of its 3.950% senior notes due 2049.

The company anticipates net proceeds of about $990 million, after deducting underwriters' discounts and estimated offering expenses. The net proceeds, together with available cash, will be used to repay $400 million of the company's 2.625% senior notes due Oct. 1 and to repay the $650 million outstanding balance under its term note.

BofA Securities Inc., Barclays Capital Inc. and Wells Fargo Securities LLC were the active joint book-running managers for the offerings.