Molina Healthcare to fully redeem $330 million 4 7/8% notes due 2025

By Taylor Fox

New York, Nov. 2 – Molina Healthcare, Inc. plans to fully redeem its $330 million outstanding 4 7/8% senior notes due 2025, according to a news release.

Molina plans to fund the redemption, and all related fees and expenses, using $346 million in proceeds from its private offering of $650 million senior notes due 2030.

Any remaining proceeds will be used for general corporate purposes, including repayment of debt, share repurchases, funding for acquisitions, capital expenditures, additions to working capital and capital contributions to the company’s health plan subsidiaries to meet statutory requirements in new or existing states.

Molina Healthcare is a Long Beach, Calif.-based managed health care service provider.

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