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Centene amends revolver, permitting the issuance of new notes
By Sara Rosenberg
New York, Nov. 2 - Centene Corp. amended its revolving credit facility on Friday to revise the debt incurrence covenant to allow for the sale of notes and update the definition of senior notes to include $400 million of 5¾% senior notes, according to a market source.
In addition, the amendment changed the EBITDA definition.
On Friday morning, the company announced plans to sell $150 million of 5¾% senior unsecured notes due 2017 and use the proceeds for general corporate purposes.
Barclays is the administrative agent on the deal.
Centene is a St. Louis-based healthcare company.
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