Davis Polk advised CIGNA Corporation on an SEC-registered debt shelf takedown of $600 million aggregate principal amount of its senior notes, including $300 million aggregate principal amount of its 4.375% senior notes due 2021 and $300 million aggregate principal amount of its 5.875% senior notes due 2041. BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities acted as representatives of the several underwriters for the offering.

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 Deanna L. Kirkpatrick and associates Michael Segall, Adam Rachlis and Arvin I. Abraham. Partner Lucy W. Farr and associate Kerry S. Price provided tax advice. Associate Ann Becchina provided benefits advice. Joshua Sills was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.