ST. LOUIS, May 16, 2011 /PRNewswire/ -- Centene Corporation
(NYSE: 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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The offering is being made by means of a prospectus and the related
preliminary prospectus supplement only. Copies of the
prospectus and the related preliminary prospectus supplement can be
obtained from Barclays Capital Inc., c/o Broadridge Integrated
Distribution Services, 1155 Long Island Avenue, New York, NY 11717 or by telephone at
888-603-5847 or e-mail at barclaysprospectus@broadridge.com.
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading
multi-line healthcare enterprise that provides programs and related
services to the rising number of under-insured and uninsured
individuals. Many receive benefits provided under Medicaid,
including the State Children's Health Insurance Program (CHIP), as
well as Aged, Blind or Disabled (ABD), Foster Care and long-term care, in addition to
other state-sponsored/hybrid programs, and Medicare (Special Needs
Plans). Centene's CeltiCare subsidiary offers states unique,
"exchange based" and other cost-effective coverage solutions for
low-income populations. The Company operates local health plans and
offers a range of health insurance solutions. It also contracts
with other healthcare and commercial organizations to provide
specialty services including behavioral health, life and health
management, managed vision, telehealth services, and pharmacy
benefits management.
The information provided in this press release contains
forward-looking statements that relate to the public
offering of senior notes, including without limitation, statements
regarding the completion of the offering and the use of
proceeds. Actual events or results may differ
materially from those contained in the forward-looking statements.
The Company's reports to the SEC contain additional
information relating to additional factors that could cause actual
results to differ from these forward-looking statements. The
Company disclaims any obligation to update this forward-looking
financial information in the future.
SOURCE Centene Corporation