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Centene again extends tender offer for WellCare notes

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Centene again extends tender offer for WellCare notes

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

The expiration date of the exchange offers has been extended until 5 p.m. ET on Jan. 14 from 5 p.m. ET on Jan. 8.

As of the previous deadline, $1.15 billion of the $1.20 billion 5.25% senior notes due 2025 and $747.1 million of the $750.0 million 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 take place immediately after the expiration date and before the closing of Centene's proposed acquisition of WellCare. The expiration date may still be extended one or more times.