May 20, 2011 | last updated May 31, 2012 6:29 pm

Aetna closing on $500M debt refinancing

Hartford managed care provider Aetna Inc. was preparing to sell Friday $500 million of debt that matures a decade from now, a regulatory filing shows.

Aetna issued its 4.125 percent senior notes due June 1, 2021 through underwriters Goldman, Sachs & Co., J.P. Morgan Securities LLC, and Morgan Stanley & Co. Inc., the company's Securities and Exchange Commission filing state.

Aetna said Friday, the day of its annual meeting, that proceeds from the newest debt issue will replace 5.75 percent debt coming due in June.

A general move has been afoot in Corporate America to take advantage of unusually low interest rates by piling on fresh debt or refinancing existing debt in anticipation that the Federal Reserve Board will gradually allow rates to climb to ward off inflation.

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