Humana completes $1.0 billion junior subordinated notes offering due 2056
Humana sold $1.0 billion of 6.625% junior subordinated notes due September 15, 2056, at 100% of principal, and the offering closed March 9, 2026. The company expects net proceeds of about $986 million, which it intends to use for general corporate purposes, including possibly repaying debt such as commercial paper borrowings.
Key points
- Principal amount of $1.0 billion; public offering price 100% of principal amount
- Expected net proceeds of about $986 million after underwriting discounts and offering expenses
- Fixed 6.625% rate until September 15, 2031, then resets every five years to five-year U.S. Treasury rate plus 2.891%, not below 6.625%
- Company may defer interest for up to 10 consecutive years if no event of default has occurred; notes are subordinate to senior indebtedness
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 09, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.