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Centene announces another extension of tender offer for WellCare-issued notes

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Centene announces another extension of tender offer for WellCare-issued notes

Centene Corp. again extended the offering period for two series of notes issued by WellCare Health Plans Inc.

The expiration date of the exchange offers has been extended to 5 p.m. ET on Jan. 21 from 5 p.m. ET on Jan. 14.

As of the previous deadline, about $1.15 billion of the $1.20 billion in 5.25% senior notes due 2025 and about $747.2 million of the $750.0 million in 5.375% senior notes due 2026 had been validly tendered.

The notes are to be exchanged for up to $1.95 billion of new notes to be issued by Centene and cash.

The settlement date is expected to occur immediately after the expiration date and before the closing of Centene's proposed acquisition of WellCare. The deadline for the expiration date may still be extended one or more times.