Humana Inc. (NYSE: HUM) will release financial results for the first quarter 2025 (1Q25) and host a live question-and-answer session on Wednesday, April 30, 2025. Additionally, the company will host an Investor Conference on Monday, June 16, 2025.

Humana Inc. Announces Senior Notes Offering and Indenture Agreements
Louisville, KY (March 5, 2025) – Humana Inc. (NYSE: HUM) announced the pricing and completion of its $1.25 billion Senior Notes offering to refinance existing debt and for general corporate purposes.

Senior Notes Issuance Details
Humana entered into an Underwriting Agreement on March 3, 2025, with Barclays Capital Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and U.S. Bancorp Investments, Inc. The offering includes:

$750 million aggregate principal amount of 5.550% Senior Notes due 2035

Priced at 99.885% of face value
Maturity date: May 1, 2035
Interest payments due May 1 and November 1, starting November 1, 2025
$500 million aggregate principal amount of 6.000% Senior Notes due 2055

Priced at 98.951% of face value
Maturity date: May 1, 2055
Interest payments due May 1 and November 1, starting November 1, 2025
Use of Proceeds
Humana expects net proceeds of approximately $1.231 billion after underwriting discounts and offering expenses. The proceeds will be used to:

Repay its 4.500% Senior Notes due April 2025
Fund general corporate purposes, including potential repayment of outstanding borrowings under its commercial paper program
Indenture Agreements
On March 5, 2025, Humana finalized the Thirtieth and Thirty-First Supplemental Indenture Agreements under its existing August 5, 2003, Original Indenture with The Bank of New York Mellon Trust Company, N.A. The Senior Notes rank equally with all unsecured and unsubordinated indebtedness.

Underwriters and Affiliations
The Underwriters and their affiliates have previously provided financial services to Humana, including:

Investment banking, commercial banking, and corporate trust services
Lending under Humana’s revolving and 364-day credit facilities
Holding portions of Humana’s outstanding senior notes
Additional Information
The offering was registered with the SEC under a Form S-3 Registration Statement (File No. 333-277734) and detailed in a Prospectus Supplement filed on March 4, 2025. Copies of the underwriting agreement, indentures, and legal opinions have been filed as exhibits to Humana’s Form 8-K.

Humana Inc. filed a Form 8-K with the SEC, reporting that senior management will meet with investors and analysts from March 3 to March 31, 2025. The company reaffirmed its guidance for the fiscal year 2025, projecting approximately $15.88 in diluted earnings per share (EPS) and $16.25 in adjusted EPS, consistent with prior guidance from February 11, 2025. Adjusted EPS, a non-GAAP measure, is used to analyze core business performance. The report includes a reconciliation of GAAP EPS to adjusted EPS, accounting for amortization and tax impacts. A cautionary statement notes that forward-looking statements are subject to risks and uncertainties as detailed in Humana’s SEC filings. The report is signed by John-Paul W. Felter, Senior Vice President, Chief Accounting Officer & Controller.