Centene to price $500 million tap of 4¾% notes due 2022 on Thursday

By Paul A. Harris

Portland, Ore., June 9 – Centene Corp. plans to price a $500 million add-on to its 4¾% senior notes due May 15, 2022 (existing ratings Ba2/BB) on Thursday trailing a late-morning conference call with investors, according to a syndicate source.

Citigroup Global Markets Inc. is the left bookrunner. Barclays, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

Morgan Stanley & Co. LLC, Evercore, Fifth Third, Regions and U.S. Bancorp Investments Inc. are the co-managers.

The notes feature a make-whole call at Treasuries plus 50 bps until May 15, 2019, then become callable at 102.375.

The St. Louis-based managed care and specialty health care services provider plans to use the proceeds to repay its revolving credit facility.

The original $300 million issue priced at par in April 2014.

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