Davis Polk & Wardwell LLP advised CIGNA Corporation on an SEC-registered debt shelf takedown of $250 million aggregate principal amount of its 4.375% senior notes due 2020. Barclays Capital Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. acted as representatives of the several underwriters for the offering.
Davis Polk also advised CIGNA Corporation in connection with its tender offers to purchase for cash any and all of $350 million aggregate principal amount of its outstanding 8.5% senior notes due 2019 and its $300 million aggregate principal amount of outstanding 6.35% senior notes due 2018. Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC acted as the dealer managers in connection with both tender offers.
Based in Philadelphia, Pennsylvania, CIGNA Corporation and its subsidiaries constitute one of the largest investor-owned health care and related benefits organizations in the United States. CIGNA’s subsidiaries are major providers of health care and related benefits offered through the workplace, including health care products and services, group disability, life and accident insurance, and disability and workers’ compensation case management and related services.
The Davis Polk team included partner Ethan T. James and associates Michael J. Moldowan, Anjali Sara Bonner and Xiao Zhu (not yet admitted). Partner Lucy W. Farr and associate Kerry S. Price provided tax advice. Ann Becchina provided benefits advice. Charisma J. Loney was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
