Draper, Utah-based HealthEquity announced earlier this morning plans to raise up to $500 million in a senior debt offering.

The HealthEquity offering will be limited to "qualified institutional buyers," with repayment of the senior notes due 2029.

With more than 13 million accounts under management, HealthEquity, (NasdaqGS:HQY), is the largest health savings account (HSA) non-bank administrator/custodian in the United States.

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