Centene announces $2.3 billion debt offering, revised earnings guidance

Clayton-based managed health care provider Centene on Tuesday revealed plans for a $2.27 billion debt offering and announced better-than-expected earnings projections even as it dealt with the loss of the personal data of close to 1 million customers.

The company said Tuesday it will to offer $2.27 billion in senior notes due in 2021 and 2024 to finance a planned $6.8 billion acquisition of Health Net, a Los Angeles-based managed care company.

Also on Tuesday, Centene revised its earnings projections for Fiscal 2015. It raised earnings guidance to $3.03 per share, up from a previously projected range $2.90 to $2.94. The company will release financial results on Feb. 9.

Those announcements came against the backdrop of Centene’s Monday announcement that it had lost six hard drives containing the name, social security number, health information and other data of some 950,000 people. Late Monday, the company said it was conducting an “ongoing comprehensive internal search” for the drives.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch


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