Davis Polk advised Aetna Inc. on its SEC-registered notes offering of $750 million aggregate principal amount in two series: $375 million aggregate principal amount of 2.20% senior notes due 2019 and $375 million aggregate principal amount of 4.75% senior notes due 2044. The proceeds of the offering will be used, together with available resources, to redeem all of Aetna’s outstanding 6.00% senior notes due 2016. Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc. and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the offering. 

Aetna is one of the nation’s leading diversified health care benefits companies, serving people with information and resources to help them in consultation with their health care professionals make better informed decisions about their health care. It offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid health care management services, Medicare Advantage and Medicare supplement plans, workers’ compensation administrative services and health information technology products and services.

The Davis Polk capital markets team included partner Richard J. Sandler and associates Christopher R. Bornhorst, Elina M. Lae and David S. Wheelock. Partner Harry Ballan and associate William A. Curran provided tax advice. All members of the Davis Polk team are based in the New York office.