MOH

Molina Healthcare to Offer $500M Senior Notes

Molina Healthcare, Inc. (NYSE: MOH) has announced its intention to privately offer $500 million aggregate principal amount of senior notes due 2033. This offering is subject to market and other conditions and will be made pursuant to an exemption under the Securities Act of 1933, as amended.

The notes will not be guaranteed by any of the company’s subsidiaries at the time of issuance. The interest rate, offering price, and other terms of the notes will be determined by negotiations between the company and the initial purchasers.

Molina Healthcare intends to use the net proceeds from this offering for general corporate purposes, including repayment of indebtedness, funding for acquisitions, share repurchases, capital expenditures, additions to working capital, and capital contributions to the company’s health plan subsidiaries to meet statutory requirements in new or existing states.

As a Fortune 500 company, Molina Healthcare, Inc. provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. The market has reacted to these announcements by moving the company's shares -2.9% to a price of $309.64. If you want to know more, read the company's complete 8-K report here.

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