Molina Healthcare Inc. on Dec. 6 priced a synthetic exchange transaction with some of the noteholders of its 1.625% senior debt.

The company is repurchasing $141.3 million of the notes and simultaneously issuing to the noteholders an aggregate 2,596,246 shares of its common stock. It will receive no proceeds, but will pay the related fees and expenses. There will be no material impact to Molina's cash position.

In the transaction, SunTrust Robinson Humphrey Inc. served as sole exchange agent and the company's financial adviser.