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WellCare announces offering of $700M senior notes

Published 08/06/2018, 06:30 AM
© Reuters.  WellCare announces offering of $700M senior notes
WCG
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  • WellCare Health Plans (NYSE:WCG) intends to offer for sale $700M aggregate principal amount of senior notes due 2026.
  • WellCare intends to use the net proceeds to fund a portion of the cash consideration for the acquisition of Meridian Health Plan of Michigan, Inc., Illinois, Inc. and MeridianRx, a pharmacy benefit manager, to pay related fees and expenses and for general corporate purposes.
  • If the Acquisition is not completed, WellCare will be required to redeem the notes, in whole, at a price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest.
  • Now read: WellCare announces offering of common stock


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