Centene modifies loan to specify SOFR as rate benchmark

Chicago, June 6 – Centene Corp. amended its credit agreement on May 31 to shift the interest rate benchmark to SOFR from Libor, according to an 8-K filing with the Securities and Exchange Commission.

There will be a customary 10 basis points credit spread adjustment.

The company also worked to remove certain provisions which require the company to make mandatory prepayments of the term loans.

The facility is originally dated Aug. 16, 2021 with Wells Fargo Bank, NA as administrative agent.

Centene is a St. Louis-based health care enterprise.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.