CENTENE CORP (CNC): debt financing — Centene enters $6B credit facility, replacing prior agreement

CENTENE CORP

New $6B facility includes a $4B revolving credit and a $2B term loan, maturing March 5, 2030.
Proceeds used to refinance existing debt, pay fees, and for working capital and general corporate purposes.
Covenant requires debt-to-capital ratio not to exceed 0.60:1.00 (0.65 after material acquisitions).
Interest rate based on S&P/Moody's ratings; on closing date, pricing level III (BBB-/Baa3) applied.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CENTENE CORP incurred term loan of $2,000,000,000 with Wells Fargo Bank, National Association (administrative agent) and the lenders at a fluctuating rate per annum equal to a benchmark rate applicable to the currenc maturing March 5, 2030.

Instrument: term loan
Principal: $2,000,000,000
Counterparty: Wells Fargo Bank, National Association (administrative agent) and the lenders
Rate: a fluctuating rate per annum equal to a benchmark rate applicable to the currenc
Maturity: March 5, 2030
Event: incurrence

Exact text from the filing

The New Credit Agreement provides for (i) a revolving credit facility in the principal amount of $4,000,000,000 (the Revolving Credit Facility) and (ii) a term loan facility in the principal amount of $2,000,000,000 (the Term Loan Facility and, together with the Revolving Credit Facility, the Senior Unsecured Credit Facility).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CENTENE CORP incurred revolving credit of $4,000,000,000 with Wells Fargo Bank, National Association (administrative agent) and the lenders at a fluctuating rate per annum equal to a benchmark rate applicable to the currenc maturing March 5, 2030.

Instrument: revolving credit
Principal: $4,000,000,000
Counterparty: Wells Fargo Bank, National Association (administrative agent) and the lenders
Rate: a fluctuating rate per annum equal to a benchmark rate applicable to the currenc
Maturity: March 5, 2030
Event: incurrence

Exact text from the filing

The New Credit Agreement provides for (i) a revolving credit facility in the principal amount of $4,000,000,000 (the Revolving Credit Facility) and (ii) a term loan facility in the principal amount of $2,000,000,000 (the Term Loan Facility and, together with the Revolving Credit Facility, the Senior Unsecured Credit Facility).

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Source: SEC EDGAR

accession 0001071739-25-000040

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