WellCare Healthplans intends to sell $600 million seven-year notes

By Paul A. Harris

Portland, Ore., Nov. 4 - WellCare Healthplans Inc. disclosed in a document filed on Monday with the Securities and Exchange Commission that it plans to sell $600 million of senior notes due 2020.

Goldman Sachs & Co., J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

Barclays, BofA Merrill Lynch, Mitsubishi UFJ Securities (USA) Inc. and Wells Fargo Securities LLC are the co-managers.

The Tampa, Fla.-based provider of managed care health plans intends to use the proceeds to repay and terminate its existing senior secured credit agreement and for general corporate purposes, including organic growth opportunities and potential acquisitions.

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