Health Net gets consents needed to amend 6 3/8% senior notes due 2017

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – Health Net, Inc. received the consents necessary to amend its 6 3/8% senior notes due 2017, according to a company press release.

As previously reported, the company began a solicitation on Aug. 3 seeking to amend the note terms so that its planned merger with subsidiaries of Centene Corp. will not constitute a change of control.

A majority of noteholders by principal approved the amendments in a consent solicitation, which ended Wednesday at 5 p.m. ET.

The indenture including the amendments took effect Wednesday. Holders who delivered consents will receive $2.50 for each $1,000 principal amount.

The issuer is a Woodland Hills, Calif., managed health care company.

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