Centene Corporation Announces $250M Offering of Notes

Centene Corporation CNC today announced that it has commenced an offering of approximately $250 million aggregate principal amount of Senior Notes due 2017 through underwriters led by Barclays Capital, BofA Merrill Lynch, and Wells Fargo Securities. Allen & Company LLC, Morgan Stanley, Morgan Keegan, and SunTrust Robinson Humphrey will be the co-managers of the offering. The offering is being conducted pursuant to a registration statement filed with the Securities and Exchange Commission. Centene intends to use the net proceeds of the offering to redeem its 7¼% senior notes due 2014, including payment of the call premium thereon, to repay amounts outstanding under its Revolving Credit Facility and to pay related fees and expenses. The remainder of the proceeds will be used for general corporate purposes.