Centene’s $2.4 Billion High‑Yield Senior Debt Offering

Cravath represented the initial purchasers, led by Wells Fargo Securities, Barclays, Citigroup and SunTrust Robinson Humphrey, in connection with the US$2.4 billion 144A/Reg. S high‑yield senior debt offering of Centene Corporation, a diversified, multi‑line healthcare enterprise. Proceeds of the offering will be used to finance the acquisition of Health Net, Inc. by Centene. The transaction closed into escrow on February 11, 2016, with the proceeds to be released from escrow concurrently with the closing of the acquisition.

The Cravath team included associates Nicholas A. Dorsey, Daniel R. Satin, Thurston J. Hamlette and Saarah Woodby. Nicholas Kypriotakis also worked on this matter.