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WellCare to repay revolver debt and redeem, repay notes via new issue
By Susanna Moon
Chicago, March 8 – WellCare Health Plans, Inc. plans to repay revolver debt from time to time and to redeem or repay $900 million principal amount of 5¾% senior notes due 2020 using proceeds of a new issue.
WellCare plans to price about $1.2 billion principal amount of senior notes due 2025, according to a company announcement.
Proceeds also will be used for general corporate purposes, including organic growth and working capital.
WellCare is a Tampa, Fla.-based Medicaid managed care provider.
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