Molina Healthcare Announces Completion of Offer to Exchange Its Privately Placed 5.375% Senior Notes Due 2022 With Registered...
September 16 2016 - 3:15PM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today
announced that it has completed its previously announced offer to
exchange up to $700 million aggregate principal amount of its
5.375% Senior Notes due 2022 (the “Original Notes”) and the note
guarantees associated therewith issued on November 10, 2015, in a
private placement exempt from the registration requirements of the
Securities Act of 1933, as amended (the “Securities Act”), with up
to an equal aggregate principal amount of its 5.375% Senior Notes
due 2022 (the “Exchange Notes”) and the note guarantees associated
therewith registered under the Securities Act.
The exchange offer expired at 5:00 p.m., New York City time, on
September 15, 2016 (the “Expiration Date”). As of the Expiration
Date, $700 million aggregate principal amount, or 100%, of the
Original Notes and the note guarantees associated therewith were
validly tendered for exchange, and not validly withdrawn, and
accepted for exchange. The Company did not receive any proceeds
from the exchange offer.
The exchange offer was made pursuant to a registration rights
agreement entered into by the Company when it initially issued the
Original Notes on November 10, 2015. The terms of the Exchange
Notes are substantially identical to the terms of the Original
Notes, except that the Exchange Notes are not subject to the
transfer restrictions, and do not contain the additional interest
provisions, applicable to the Original Notes.
This press release does not constitute an offer to sell any
securities or a solicitation of an offer to buy any securities. The
exchange offer was made only by means of the written exchange offer
prospectus and the related letter of transmittal.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company,
provides managed health care services under the Medicaid and
Medicare programs and through the state insurance marketplaces.
Through our locally operated health plans in 12 states across the
nation and in the Commonwealth of Puerto Rico, Molina serves
approximately 4.3 million members. Dr. C. David Molina founded our
company in 1980 as a provider organization serving low-income
families in Southern California. Today, we continue his mission of
providing high quality and cost-effective health care to those who
need it most. For more information about Molina Healthcare, please
visit our website at molinahealthcare.com.
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Molina Healthcare, Inc.Investor RelationsJuan José Orellana,
562-435-3666, ext. 111143
Molina Healthcare (NYSE:MOH)
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