The Firm represented the initial purchasers in private placements, pursuant to separate purchase agreements among Humana Inc. (the “Company”), the initial purchasers, Horseshoe Funding Trust I (the “2036 Trust”) and Horseshoe Funding Trust II (the “2055 Trust”), of $750,000,000 of Pre-Capitalized Trust Securities redeemable 2036 issued by the 2036 Trust and of $750,000,000 of Pre-Capitalized Trust Securities redeemable 2055 issued by the 2055 Trust (collectively, the “P-Caps”). The P-Caps provide the Company with on-demand capital and liquidity by enabling the Company to issue up to $750,000,000 aggregate principal amount of its 6.062% Senior Notes due 2036 to the 2036 Trust during a ten-year period and up to $750,000,000 aggregate principal amount of its 6.887% Senior Notes due 2055 to the 2055 Trust during a thirty-year period. Each Trust invested the proceeds from the sale of its P-Caps in portfolios of eligible assets.
Headquartered in Louisville, Kentucky, Humana is a leading U.S. healthcare company. Through its Humana insurance services and its CenterWell health care services, Humana makes it easier for the millions of people they serve to achieve their best health – delivering the care and service they need, when they need it.
The Simpson Thacher team for the transaction included Mark Brod, Barry Lau, Erin Camia and Emma Taylor (Capital Markets); Michael Mann and Jacob Chefitz (Tax); Vanessa Burrows and Jacob Madden (Healthcare); Alysha Sekhon and Isabella Gonzalez (Intellectual Property); and Jennie Getsin (FINRA).