Centene to redeem $500M of 4.25% 2027 notes
Centene Corporation is undertaking a partial redemption of its outstanding 4.25% Notes due December 15, 2027, covering $500,000,000 aggregate principal amount.
Rhea-AI Filing Summary
Centene Corporation is undertaking a partial redemption of its outstanding 4.25% Notes due December 15, 2027, covering $500,000,000 aggregate principal amount. The redemption is scheduled to occur on August 13, 2026, in accordance with the terms of the notes and the governing indenture.
Following completion, approximately $568,664,000 of the 2027 Notes will remain outstanding. The redemption price will equal 100% of the principal amount of notes being redeemed plus accrued and unpaid interest to, but excluding, the redemption date, and this communication does not constitute a formal notice of redemption with respect to the 2027 Notes.
Positive
- $500,000,000 principal amount of 4.25% Notes due 2027 will be redeemed, materially reducing this specific debt series while paying holders 100% of principal plus accrued interest.
Negative
- None.
Insights
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8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Notes to be redeemed: $500,000,000 aggregate principal amount
Interest rate: 4.25%
Maturity date of Notes: December 15, 2027
+3 more
6 metrics
Notes to be redeemed
$500,000,000 aggregate principal amount
4.25% Notes due December 15, 2027 to be redeemed on August 13, 2026
Interest rate
4.25%
Coupon on the Notes due December 15, 2027 subject to partial redemption
Maturity date of Notes
December 15, 2027
Scheduled maturity of the 4.25% Notes being partially redeemed
Redemption date
August 13, 2026
Date scheduled for the partial redemption of the 4.25% 2027 Notes
Notes remaining outstanding
$568,664,000
Approximate principal amount of 2027 Notes outstanding after the partial redemption
Redemption price
100% of principal plus accrued interest
Price for the principal amount of 2027 Notes being redeemed, excluding interest after August 13, 2026
Key Terms
partial redemption, aggregate principal amount, Indenture, accrued and unpaid interest
4 terms
partial redemption financial
"delivered a notice of partial redemption to redeem on August 13, 2026"
aggregate principal amount financial
"redeem on August 13, 2026 $500,000,000 aggregate principal amount of its outstanding 4.25% Notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
Indenture financial
"in accordance with the terms of the 2027 Notes and the Indenture dated as of December 6, 2019"
An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.
accrued and unpaid interest financial
"redemption price is equal to 100% of the principal amount ... plus accrued and unpaid interest"
Accrued and unpaid interest is the interest that has built up on a loan or debt but hasn't been paid yet. It's like owing your friend money for a favor over time—you're expected to pay it later, even though you haven't paid it yet. This matters because it shows how much you owe beyond the original amount borrowed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What debt is Centene Corporation (CNC) redeeming?
Centene is redeeming $500,000,000 aggregate principal amount of its 4.25% Notes due December 15, 2027. This is a partial redemption under the existing indenture; about $568,664,000 of these 2027 Notes will remain outstanding afterward.
When is the redemption date for Centene (CNC) 4.25% Notes due 2027?
The redemption date is August 13, 2026. On that date, Centene will redeem $500,000,000 principal amount of its 4.25% Notes due December 15, 2027, paying 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date.
How much of Centene (CNC) 2027 Notes will remain outstanding after redemption?
After the partial redemption, approximately $568,664,000 of Centene’s 4.25% Notes due December 15, 2027 will remain outstanding. This reflects the portion of the series that is not being called on the August 13, 2026 redemption date.
What redemption price will Centene (CNC) pay for the 4.25% 2027 Notes?
Centene will pay a redemption price equal to 100% of the principal amount of the 4.25% Notes being redeemed, plus any accrued and unpaid interest up to, but excluding, August 13, 2026, the scheduled redemption date.
Does Centene’s (CNC) announcement count as a formal notice of redemption?
No. Centene states that this communication does not constitute a notice of redemption with respect to the 4.25% Notes due December 15, 2027. A separate formal notice must be delivered under the indenture’s terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
