Company: HUM
Filing Date: 2025-03-26
Form Type: 424B5
Source: 0001628280-25-014916
Chunk: 9

Company: HUMANA INC
Filing Date: 2025-03-26
Form: 424B5
Chunk 9
---
 have had the ability to incur up to approximately $2.624 billion under our Revolving Credit Facility and $2.1 billion under our 364-day Credit Facility (which excludes an uncommitted $500 million of incremental loan facilities). Agreements we enter into in the future governing indebtedness could also contain significant financial and operating restrictions.

A failure to comply with the obligations contained in our current or future credit facilities or indentures could result in an event of default or an acceleration of debt under other instruments that may contain cross-acceleration or cross-default provisions. We cannot be certain that we would have, or be able to obtain, sufficient funds to make these accelerated payments.

<div align='center'>S-4</div>

Table of Content s

The Notes Are Unsecured Obligations and Are Structurally Subordinated to the Obligations of Our Subsidiaries.

The notes are not secured by any of our assets and will be effectively subordinated to any of our future secured indebtedness to the extent of the value of the assets securing that indebtedness. Accordingly, in the event of our bankruptcy, liquidation or any similar proceeding, holders of the notes will be entitled to payment only after the holders of any of our future secured indebtedness have been paid to the extent of the value of the assets securing that indebtedness. As of December 31, 2024, we had no secured indebtedness outstanding. In addition, the indenture and respective supplemental indentures governing our existing notes and the notes being offered hereby permit us to incur additional indebtedness, including secured indebtedness.

Indebtedness of our subsidiaries and obligations and liabilities of our subsidiaries are structurally senior to the notes since, in the event of our bankruptcy, liquidation, dissolution, reorganization or other winding up, the assets of our subsidiaries will be available to pay the notes only after the subsidiaries’ indebtedness and obligations and liabilities are paid in full. Because we stand as an equity holder, rather than a creditor, of our subsidiaries, creditors of those subsidiaries will have their debt satisfied out of the subsidiaries’ assets before our creditors, including the noteholders. Because our operations are and will be conducted by our subsidiaries, these subsidiaries have incurred and will continue to incur significant obligations and liabilities.

We May Not Have the Ability to Raise the Funds Necessary to Finance the Offer to Repurchase the Notes Upon a Change of Control Triggering Event.

Upon the occurrence of a Change of Control Triggering Event with respect to the additional 20 notes offered hereby, we will