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MarketScreener Homepage  >  Equities  >  Nyse  >  Molina Healthcare, Inc.    MOH


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Molina Healthcare : Announces Closing of Offering of $650 Million of 3.875% Senior Notes Due 2030

11/17/2020 | 04:17pm EST

Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced the closing of its previously announced offering of $650 million aggregate principal amount of 3.875% Senior Notes due 2030 (the “Notes”) sold in a private offering to individuals reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain persons outside the United States in reliance on Regulation S under the Securities Act.

The Notes bear interest at a rate of 3.875% per annum. Interest on the Notes is payable semi-annually in arrears on May 15 and November 15 of each year, commencing May 15, 2021, and accrues from November 17, 2020. The Notes will mature on November 15, 2030.

After deducting fees and expenses payable by the Company, the net proceeds from the issuance and sale of the Notes was $641 million (the “Net Proceeds”). The Company intends to use approximately $346 million of the Net Proceeds to redeem the entire $330 million outstanding principal amount of its 4.875% senior notes due 2025, and to pay related fees and expenses. The Company intends to use the remaining Net Proceeds for general corporate purposes, which may include repayment of indebtedness, share repurchases, funding for acquisitions, capital expenditures, additions to working capital and capital contributions to the Company’s health plan subsidiaries to meet statutory requirements in new or existing states.

The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, a U.S. person (as defined in Regulation S) except in transactions exempt from, or not subject to, the registration requirements of the Securities Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes and shall not constitute an offer, solicitation or sale in any state or jurisdiction where such offer, solicitation or sale is prohibited.

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 its locally operated health plans, Molina Healthcare served approximately 4.0 million members as of September 30, 2020. For more information about Molina Healthcare, please visit www.molinahealthcare.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains “forward-looking statements,” including statements related to the Company’s intended use of the Net Proceeds, which are subject to risks and uncertainties. Additional information regarding the risk factors to which the Company is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2019 and in its quarterly reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020. These reports can be accessed under the investor relations tab of the Company’s website at www.molinahealthcare.com or on the SEC’s website at www.sec.gov. Given these risks and uncertainties, the Company can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by its forward‑looking statements will in fact occur, and it cautions investors not to place undue reliance on these statements. All forward-looking statements in this release represent the Company’s judgment as of the date hereof, and, except as otherwise required by law, the Company disclaims any obligation to update any forward-looking statements to conform the statement to actual results or changes in its expectations.

© Business Wire 2020
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Financials (USD)
Sales 2020 19 441 M - -
Net income 2020 694 M - -
Net cash 2020 2 532 M - -
P/E ratio 2020 19,0x
Yield 2020 -
Capitalization 13 090 M 13 090 M -
EV / Sales 2020 0,54x
EV / Sales 2021 0,29x
Nbr of Employees 10 000
Free-Float 99,3%
Duration : Period :
Molina Healthcare, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends MOLINA HEALTHCARE, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 235,91 $
Last Close Price 220,74 $
Spread / Highest target 29,1%
Spread / Average Target 6,87%
Spread / Lowest Target -12,1%
EPS Revisions
Managers and Directors
Joseph M. Zubretsky President, Chief Executive Officer & Director
Dale B. Wolf Chairman
Thomas L. Tran Chief Financial Officer & Treasurer
Jason Dees Chief Medical Officer
Ronna E. Romney Vice Chairman
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