Humana plans to sell $750 million worth of senior notes, which the company said will be used for general corporate purposes.
Those purposes may include the repayment of existing debts, including borrowings under the company's commercial paper program, according to a March 21 news release.
The company expects net proceeds from the senior notes offering, due in 2029, will be approximately $741.1 million, after deducting underwriters' discounts and estimated offering expenses, according to the news release.
The offering is expected to close March 23, subject to the satisfaction of customary closing conditions.
Citigroup Global Markets and Morgan Stanley are acting as joint managers for the senior note offering.