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Health insurer Cigna Corp. said Wednesday that it is buying back $300 million in 6.35 percent senior notes due 2018.

The tender offer will expire Wednesday.

Cigna said it will pay holders of the notes an amount equal to $1,151.74 per $1,000 principal amount of the notes. Cigna will also pay accrued and unpaid interest on the notes.

Cigna retained Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC to serve as the dealer managers.

Shares of Cigna fell 32 cents to close at $36.83.

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