Managed care provider Cigna Corp., with operations in Bloomfield, is buying back $300 million worth of senior debt due in 2018, The Associated Press reports.
The Philadelphia health insurance company said that bondholders have until Dec. 15 to offer up their notes.
The purchase price will be calculated by adding .45 percent to the yield of the 2.625 percent U.S. Treasury note due Nov. 15, 2020 as of 2 p.m. eastern time on Dec. 15.
Bondholders also will receive accrued and unpaid interest on the notes, which return 6.35 percent interest.
The dealer managers are J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. The depository and information agent is D.F. King & Co. Inc.
