UnitedHealth Group (NYSE:UNH) today announced the final results for its
previously announced modified “Dutch Auction” cash tender offers for
certain of its notes. The tender offers expired at 12:00 midnight, New
York City time, on February 5, 2010. As of the expiration date,
UnitedHealth Group received tenders for $474 million aggregate principal
amount of its short-term notes and $586 million aggregate principal
amount of its intermediate-term notes, each listed in the table below.
Based on the tender caps and the proration terms of the tender offers,
UnitedHealth Group accepted $200 million and $575 million aggregate
principal amount of the short-term notes and the intermediate-term
notes, respectively, resulting in aggregate consideration of
$833 million (plus an additional $14 million in aggregate accrued
interest).
“We are pleased with the results of our debt
tender offers. The tender offers are part of UnitedHealth Group’s
ongoing asset-liability management program and enhance our financial
strength and flexibility as we move forward.”
G. Mike Mikan, executive vice president and chief financial officer of
UnitedHealth Group, said, “We are pleased with the results of our debt
tender offers. The tender offers are part of UnitedHealth Group’s
ongoing asset-liability management program and enhance our financial
strength and flexibility as we move forward.”
Based on the terms of the tender offers, UnitedHealth Group determined
the clearing spreads, reference yields, tender yields, total
consideration and accrued interest per $1,000 principal amount of the
notes as follows: