UnitedHealth Group’s $5.5 Billion Notes Offering

Simpson Thacher represented the underwriters in connection with a public offering by UnitedHealth Group Incorporated.

UnitedHealth Group Incorporated offfered $5.5 billion aggregate principal amount of its notes, consisting of $750 million aggregate principal amount of 2.375% Notes due 2024, $1 billion aggregate principal amount of 2.875% Notes due 2029, $1.25 billion aggregate principal amount of 3.5% Notes due 2039, $1.25 billion aggregate principal amount of 3.7% Notes due 2049 and $1.25 billion aggregate principal amount of 3.875% Notes due 2059. The offering closed on July 25, 2019.

UnitedHealth Group is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. Headquartered in Minnetonka, Minnesota, UnitedHealth Group offers a broad spectrum of health benefits and health services. UnitedHealth Group offers health benefits through its UnitedHealthcare Medicare & Retirement, UnitedHealthcare Community & State and UnitedHealthcare Global businesses, and provides health services to participants in the health system through its OptumHealth, OptumInsight and OptumRx businesses.

BofA Merrill Lynch, Barclays, Citigroup, US Bancorp, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co. LLC, J.P. Morgan, Mizuho Securities, Morgan Stanley, RBC Capital Markets, BB&T Capital Markets, KeyBanc Capital Markets, PNC Capital Markets LLC, Santander, TD Securities, Academy Securities, BMO Capital Markets, BNY Mellon Capital Markets, LLC Cabrera Capital Markets Fifth Third Securities, HSBC Huntington Capital Markets, MUFG Regions Securities LLC, SunTrust Robinson Humphrey and The Williams Capital Group, L.P. acted as underwriters on the deal.

Hogan Lovells US LLP advised UnitedHealth Group on the transaction.

The Simpson Thacher team included Roxane Reardon, Ashley Yoon and Jessica Jeong (Capital Markets); Jonathan Cantor and Abigail Hopper (Tax); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Jessica Jeong – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Ashley Yoon – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Academy Securities Inc.; Bank of America Merrill Lynch; Barclays Capital; BB&T Capital Markets; BMO Capital Markets; BNY Mellon; Cabrera Capital Markets; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities; Fifth Third Securities, Inc.; Goldman Sachs & Co.; HSBC Securities; Huntington Investment Company; J.P. Morgan Securities LLC; KeyBanc Capital Markets; Mizuho Securities; Morgan Stanley; MUFG Securities Americas Inc. ; PNC Capital Markets LLC; RBC Capital Markets; Regions Securities LLC; Santander Investment Securities Inc.; SunTrust Robinson Humphrey, Inc.; TD Securities; U.S. Bancorp Investments; Wells Fargo Securities; Williams Companies, Inc.;

Author: Ambrogio Visconti