Centene to price $300 million eight-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., April 24 - Centene Corp. plans to price a $300 million offering of eight-year senior notes (existing ratings Ba2/BB) on Thursday following a late-morning conference call with investors, according to a market source.

Barclays is the left lead bookrunner for the public offer. SunTrust Robinson Humphrey and Wells Fargo Securities LLC are the joint bookrunners.

Allen & Co. LLC, Citigroup Global Markets, Morgan Stanley & Co. and Regions Securities LLC are the co-managers.

The notes become callable after five years at par plus 50% of the coupon and feature a 101% poison put.

The St. Louis-based managed care and specialty healthcare services provider plans to use the proceeds to repay its revolver and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.