Centene amends credit agreement to replace LIBOR with SOFR and remove mandatory prepayment provisions

CENTENE CORP

Replaced LIBOR benchmark with SOFR plus 0.10% credit spread adjustment for USD borrowings.
Removed certain mandatory prepayment requirements for term loans under the credit agreement.
Amendment dated May 31, 2023, with Wells Fargo as administrative agent and multiple lenders.
No Event of Default occurred; company reaffirmed all covenants and representations.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CENTENE CORP amended First Amendment with Wells Fargo Bank, National Association (effective 2023-05-31).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Centene Corporation (the “Company”) entered into a first amendment (the “First Amendment”) to the Company’s Fourth Amended and Restated Credit Agreement

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CENTENE CORP filing history →

Source: SEC EDGAR

accession 0001071739-23-000157

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