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Centene subsidiary closes $1.8B debt offering

Centene Corp. subsidiary Centene Escrow I Corp. closed its offering of $1.8 billion of 5.375% senior notes due 2026.

The company has deposited the gross proceeds of the offering, along with certain additional funds, into a segregated escrow account.

Centene intends to use the net proceeds of the offering to finance a portion of the cash consideration for its pending acquisition of the assets of Fidelis Care, to pay related fees and expenses, and for general corporate purposes, including the repayment of outstanding debt.

New York State Catholic Health Plan Inc. does business as Fidelis Care New York.