Centene Corporation
Centene Corporation Enters into New Credit Agreement
Summary
On March 5, 2025, Centene Corporation entered into a new Credit Agreement with Wells Fargo Bank as administrative agent, establishing a $4 billion revolving credit facility and a $2 billion term loan facility. This agreement replaced the existing credit agreement, dated August 16, 2021. The new agreement includes financial covenants and customary affirmative and negative covenants. The proceeds from the term loan were used to refinance existing debt, pay transaction-related fees, and for general corporate purposes.
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Exhibits (1)
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About Centene Corporation
Centene Corporation is a diversified healthcare enterprise providing a comprehensive range of managed care services to government-sponsored healthcare programs. Specializing in serving uninsured and underinsured populations, Centene offers health plans, benefits management, and other related services. It operates through two primary segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Medicaid, Medicare Advantage, and the Health Insurance Marketplace, impacting millions of lives across the United States. Meanwhile, the Specialty Services segment enhances healthcare quality and affordability through offerings such as pharmacy solutions, behavioral health, and optometry services. Founded in 1984 and headquartered in St. Louis, Missouri, Centene plays a significant role in the healthcare sector by addressing accessibility and cost challenges, thereby shaping market trends and influencing policy developments. As a major participant in the managed care industry, Centene is crucial for promoting coordinated care and improving health outcomes for vulnerable populations.
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