UnitedHealth sells $10.5 billion in bonds to pay for Catamaran deal

UnitedHealth Group sold $10.5 billion in bonds Monday and used the nearly $40 billion in orders it received to pay for its recent $12.8 billion purchase of pharmacy benefit manager Catamaran Corp., reports the Star Tribune. Amid mergers and acquisitions throughout the industry, bond buyers have been quick to snatch up debt issued by insurers. "Of all the consolidation going on in the sector, [UnitedHealth] is in our view one of the best in-class names," Shubhomoy Mukherjee, a healthcare strategist at Barclays, tells the newspaper. "They don't need to do large M&A transactions to maintain their growth momentum." Article

 

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