Molina Healthcare, Inc. closed an offering of $850 million aggregate principal amount of 6.500% senior notes due 2031.
The notes bear interest at a rate of 6.500% per annum and mature on February 15, 2031.
Net proceeds from the offering were approximately $838 million after deducting fees and expenses, to be used for general corporate purposes and to repay outstanding loans.
Offering Details
$850 million of 6.500% senior notes due 2031 sold in a private offering to qualified institutional buyers and certain non-U.S. persons.
Interest Rate
The notes bear interest at a rate of 6.500% per annum, payable semi-annually starting August 15, 2026.
Use of Proceeds
The net proceeds of approximately $838 million will be used for general corporate purposes and to repay existing loans.
- The offering provides Molina Healthcare with a significant influx of capital for its operations and financial obligations.
- The issuance of the senior notes indicates investor confidence in Molina Healthcare's financial stability and growth prospects.
The closing of this offering strengthens Molina Healthcare's financial position and demonstrates its ability to access capital markets for funding.