Aetna Inc. (NYSE:AET) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Amendment (the “First Amendment”) to the Term Loan Credit
Agreement dated as of July 30, 2015 (the Existing Credit
Agreement and together with the First Amendment, the Term Credit
Agreement), with the various lenders party to the First Amendment
and Citibank, N.A., as administrative agent. A summary of the
terms of the Existing Credit Agreement may be found in Aetna
Inc.’s Current Report on Form 8-K filed on July 31, 2015, which
summary is incorporated herein by reference.
commitments under the Term Credit Agreement may expire to
December 31, 2016, or, if the End Date (as defined in the
Agreement and Plan of Merger dated as of July 2, 2015, among
Aetna, Echo Merger Sub, Inc., Echo Merger Sub, LLC, and Humana
Inc.) is extended to a later date, to such later date (but in any
event not later than July 1, 2017). As a result of this change,
if the “End Date” is extended to a date later than December 31,
2016, the lenders commitments to make loans under the Term Credit
Agreement will automatically be extended to such date, provided
that such date is not later than July 1, 2017.
Credit Agreement to permit Aetna to replace any lender that fails
to consent to a proposed amendment, waiver, discharge or
termination which requires the consent of all of the lenders or
all of the lenders directly affected thereby and with respect to
which lenders having at least 51% of the aggregate amount of the
commitments or 51% of the aggregate amount of the outstanding
loans under the Term Credit Agreement, as applicable, have
granted their consent and (ii) adds customary language to reflect
European Union bail-in directive compliance language.
copy of the Notice of Effectiveness confirming the effectiveness
of the First Amendment is filed as Exhibit 99.2 hereto. Each of
those exhibits is hereby incorporated in this Item 1.01 by
reference.
First Amendment and the Existing Credit Agreement perform normal
banking, investment banking and/or advisory services for Aetna
and its affiliates from time to time for which they have received
customary fees and expenses.
is qualified in its entirety by the full text of the First
Amendment, which is filed as Exhibit 99.1 hereto, and
incorporated herein by reference. You are encouraged to read the
Existing Credit Agreement and the First Amendment in their
entirety.
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
incorporated by reference into this Item 2.03.
|
99.1
|
First Amendment dated as of November 21, 2016, to the Term
Loan Credit Agreement dated as of July 30, 2015 |
|
99.2
|
Notice of Effectiveness dated November 21, 2016
|
About Aetna Inc. (NYSE:AET)
Aetna Inc. is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. The Health Care segment’s products and services consist of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded, or administrative services contact, basis and emerging businesses products and services, such as accountable care solutions (ACS). The Group Insurance segment’s products consist of Life Insurance Products, Disability Insurance Products and Long-Term Care Insurance Products. The Large Case Pensions segment manages a range of retirement products, (including pension and annuity products) primarily for tax-qualified pension plans. Its customers include employer groups, individuals, college students, part-time and hourly workers, health plans, healthcare providers (providers), Government-sponsored plans, labor groups and expatriates. Aetna Inc. (NYSE:AET) Recent Trading Information
Aetna Inc. (NYSE:AET) closed its last trading session up +1.58 at 128.42 with 2,467,821 shares trading hands.
