Cigna Corp. is set to be make the second-largest bond offering in the U.S. corporate bond market for the year. To fund its takeover of Express Scripts Holding Co., Cigna is expected to sell more than $22 billion of bonds.
The health insurance company agreed to acquire Express Scripts in March for $54 billion, and the deal is reportedly close to regulatory approval. Cigna has started selling senior unsecured bonds in as many as 10 parts, according to a person with knowledge of the matter (as reported by Bloomberg).