Molina Healthcare Inc. on Aug. 13 terminated the commitments under a bridge credit agreement.

The agreement provided for a 364-day unsecured senior bridge facility of up to $550.0 million that Molina could have used to satisfy conversions of its 1.125% cash convertible senior notes due 2020, satisfy and/or refinance debts incurred to satisfy conversions of the 1.125% notes, and repay or refinance its existing revolving credit facility.

Molina terminated the agreement as it has concluded that it no longer needed the bridge credit facility to satisfy the funding purposes. No amounts were borrowed by the company under the agreement.

The agreement was entered into with SunTrust Bank, Barclays Bank PLC, The Bank of Tokyo-Mitsubishi UFJ Ltd., Bank of America NA and Morgan Stanley Senior Funding Inc. as lenders, and SunTrust Bank as administrative agent.