Centene to pay down revolver using $200 million add-on note proceeds

By Susanna Moon

Chicago, Jan. 9 – Centene Corp. said it plans to pay down its revolving credit facility using proceeds of a notes offering.

The company plans to price a $200 million principal amount add-on of 4¾% senior notes due 2022, according to a company press release.

The company originally issued $300 million of the 4¾% notes on April 29, 2014.

Proceeds also will be used for general corporate purposes, including the funding of statutory capital.

The St. Louis-based managed care and specialty health care services provider plans to use the proceeds to repay its revolver and for general corporate purposes.

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