Hartford health insurer Aetna said it has raised $13 billion through a bond offering to help fund its proposed $37 billion acquisition of Humana.
The financing was completed last week through a public offering of senior notes with various interest rates; some come due as late as 2046.
Aetna expects to use the net proceeds to fund part of its $37 million proposed acquisition of Kentucky insurer Humana. Aetna will also use cash and a loan to pay for the deal.
Last week, the Connecticut Citizen Action Group opposed the Connecticut Insurance Department’s approval of the proposed merger, arguing it would lead to further job cuts in Connecticut. The deal still requires approvals from other states.
The Hartford insurer said as a result of the completed bond offering, its one-year, $13 billion bridge credit agreement entered into on July 30, 2015, in connection with the proposed acquisition was terminated effective June 9.
