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Exchange Department
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Business New Haven
7/13/1998
By: Kristine Hansen
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PHILADELPHIA - On June 24 Cigna Corp. (NYSE: CI) announced its offer for exchange of its currently outstanding 8.30-percent notes due in 2023 in the amount of $100 million for newly issued $100 million notes due in 2033. The company is offering the exchange in order to increase its financial flexibility and take advantage of lower interest rates. Cigna is a financial services company with locations in Hartford and headquarters in Philadelphia. Cigna closed at 70 1/8, up 1 1/4 for the trading day, on June 26.
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