Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

MOLINA HEALTHCARE, INC.

(MOH)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Molina Healthcare : Announces Pricing of $650 Million of Senior Notes Due 2030

11/02/2020 | 04:17pm EST

Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced that it priced $650 million aggregate principal amount of its senior notes due 2030 (the “Notes”) to be 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 offering is expected to close on or about November 17, 2020 (such actual closing date, the “Settlement Date”), subject to the satisfaction of customary closing conditions.

The Notes will not be guaranteed by any of the Company’s subsidiaries at the time of issuance. The Notes will bear interest at a rate of 3.875% per year. Interest will be payable semi-annually in arrears on May 15 and November 15 of each year, commencing May 15, 2021, and will accrue from the Settlement Date. The Notes will mature on November 15, 2030.

The Company estimates that after deducting fees and expenses payable by the Company, the net proceeds from the issuance and sale of the Notes will be approximately $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 offering of the Notes and intended use of net proceeds of the offering, which are subject to risks and uncertainties, including, without limitation, risks related to whether the Company will consummate the offering of the Notes on the expected terms, or at all, market and other general economic conditions, and whether the Company will be able to satisfy the conditions required to close any sale of the Notes. 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
All news about MOLINA HEALTHCARE, INC.
01/21MOLINA HEALTHCARE : Goldman Sachs Starts Molina Healthcare at Neutral With $217 ..
MT
01/14MOLINA HEALTHCARE, INC. : Regulation FD Disclosure, Financial Statements and Exh..
AQ
01/14MOLINA HEALTHCARE : JP Morgan Healthcare Conference
PU
01/11INSIDER TRENDS : Insider at Molina Healthcare Sale for Taxes Adds to 90-Day Sell..
MT
01/05MOLINA HEALTHCARE : Truist Adjusts Price Target on Molina Healthcare to $260 Fro..
MT
01/04MOLINA HEALTHCARE, INC. : Regulation FD Disclosure, Financial Statements and Exh..
AQ
01/04MOLINA HEALTHCARE : Announces the Closing of its Acquisition of Magellan Complet..
BU
2020MOLINA HEALTHCARE : Inc. to Present at 39th Annual J.P. Morgan Healthcare Confer..
BU
2020MOLINA HEALTHCARE : Announces Fourth Quarter and Year-End 2020 Earnings Release ..
AQ
2020OPTIONS : Option Implied Volatility for Hospital Groups During COVID-19 Vaccine ..
MT
More news
Financials (USD)
Sales 2020 19 450 M - -
Net income 2020 694 M - -
Net cash 2020 2 123 M - -
P/E ratio 2020 19,2x
Yield 2020 -
Capitalization 13 231 M 13 231 M -
EV / Sales 2020 0,57x
EV / Sales 2021 0,40x
Nbr of Employees 10 000
Free-Float 99,3%
Chart MOLINA HEALTHCARE, INC.
Duration : Period :
Molina Healthcare, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MOLINA HEALTHCARE, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 235,58 $
Last Close Price 223,12 $
Spread / Highest target 27,7%
Spread / Average Target 5,59%
Spread / Lowest Target -13,1%
EPS Revisions
Managers and Directors
NameTitle
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
Sector and Competitors
1st jan.Capitalization (M$)
MOLINA HEALTHCARE, INC.4.91%13 231
UNITEDHEALTH GROUP1.23%329 763
CIGNA CORPORATION7.32%80 714
ANTHEM, INC.-2.18%78 116
HUMANA INC.1.06%53 622
CENTENE CORPORATION2.47%35 663