UnitedHealth Group Inc. (UNH) announced the early results for its earlier announced modified "Dutch Auction" cash tender offers for certain of its notes.
The Group said it received tenders for about $472 million aggregate principal amount of its short-term notes, and $570 million aggregate principal amount of its intermediate-term notes. The tendered notes exceed the priorly announced tender caps of $200 million and $550 million for the short-term notes and the intermediate-term notes, respectively.
Also, UnitedHealth stated that it is increasing the tender cap of the intermediate-term notes to $575 million from $550 million. Following this increase, the Group extended the expiration date of the tender offers to 12:00 midnight, New York City time, on February 5, 2010, and the reference yield determination date of the tender offers, as described in the offer to buy dated January 6, 2010, to 2:00 p.m., New York City time, on February 3, 2010.
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