Anthem Inc. has remarketed $1.25 billion of its 1.90% remarketable subordinated notes due 2028.
The notes were originally issued as a part of Anthem's offering of its corporate units on May 12, 2015. The annual interest rate on the subordinated notes was reset to 4.324% as a result of the remarketing. Anthem will use the proceeds from the remarketing to purchase U.S. Treasury securities that will be pledged to secure the stock purchase obligations of the holders of the corporate units.
The remarketing is expected to close March 2, subject to customary closing conditions.
The purchasers of the remarketed notes intend to transfer such notes to Anthem on March 2 in exchange for $1.25 billion of senior notes due 2028 and a cash payment of $3.49 per remarketed note. Anthem plans to cancel these remarketed notes.
