Simpson Thacher Represents the Underwriters in $900 Million Debt Offering by Cigna Corporation
03.20.15
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Simpson Thacher represented the underwriters, led by J.P. Morgan Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the public offering by Cigna Corporation (“Cigna”) of $900 million of its 3.25% Senior Notes due 2025. The offering closed on March 20, 2015.
Cigna is a global health services organization offering medical, dental, disability, life and accident insurance and related products and services in the United States and select international markets. Cigna intends to use the net proceeds to redeem Cigna’s outstanding notes, and for general corporate purposes. Cigna had consolidated shareholders' equity of $10.8 billion and assets of $55.9 billion as of December 31, 2014, and revenues of $34.9 billion for the year ended December 31, 2014.
The Simpson Thacher team for the transaction included John Lobrano, Tadashi Okamoto and Shannon Guy (Capital Markets); Steve DeLott (Insurance); Jonathan Cantor and Taylor Alexander (Tax); and Andrew Pagliughi (Blue Sky).