UnitedHealth Sells $12 Billion of Bonds for Refinancing (3)

UnitedHealth Group Inc. raised $12 billion of bonds Tuesday to help refinance short-term debt, as blue-chip companies move to take care of their funding needs ahead of elections later this year.

The health-care giant sold the notes in eight parts, according to a person with knowledge of the matter. The longest portion of the offering, a 40-year security, yields 1.3 percentage point above Treasuries, after initial talks of around 1.5 percentage point, said the person, who asked not to be identified as the details are private.

Proceeds will be used for general purposes, including refinancing short-term debt and repaying outstanding ...