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Change Healthcare to redeem 5¾% notes due 2025, ends credit agreement
By Mary-Katherine Stinson
Lexington, Ky., Oct. 3 – Change Healthcare Inc. will redeem in full its $1,175,000,000 outstanding 5¾% senior notes due March 1, 2025 at par plus interest on Oct. 13, according to an 8-K filing with the Securities and Exchange Commission.
Also, on Oct. 3 the company terminated its credit agreement, comprised of a senior secured facility for a term loan and a revolver, with Bank of America, NA as administrative agent, paying approximately $4.1 billion to satisfy all the outstanding obligations.
These transactions were in connection with Oct. 3 closing of the acquisition of Change Healthcare by UnitedHealth Group Inc. The $13 billion agreement included approximately $5 billion of Change’s debt.
Nashville-based Change Healthcare is a health care information and technology company.
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