WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Files An 8-K Termination of a Material Definitive Agreement
As previously announced, on March 8, 2017, WellCare Health Plans, Inc. (the “Company”) issued a conditional notice of redemption to redeem in full the outstanding $900.0 million of its 5.75% Senior Notes due 2020 (the “Notes”) on April 7, 2017 at a redemption price of 102.875% of the principal amount, plus accrued and unpaid interest up to, but excluding the redemption date. On April 7, 2017, the Company redeemed in full the Notes. The total cash paid to redeem the Notes was $946.3 million, which included the call premium of $25.9 million and accrued and unpaid interest of $20.4 million. The Bank of New York Mellon Trust Company, N.A. (“BNY Mellon”), trustee under the indentures for the Notes, acted as the paying agent for the Company in connection with this redemption. The Company utilized cash on hand, including proceeds from issuance on March 22, 2017 of its 5.25% Senior Notes due 2025 for the redemption of the Notes. The Company’s obligations under the related base indenture and supplemental indenture, each dated as of November 14, 2013, by and among the Company and BNY Mellon as trustee, were satisfied and discharged on April 7, 2017.
About WELLCARE HEALTH PLANS, INC. (NYSE:WCG)
WellCare Health Plans, Inc. is a managed care company focused on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs) to families, children, seniors and individuals with complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs. The Medicaid Health Plans segment includes plans for beneficiaries of Temporary Assistance for Needy Families, Supplemental Security Income, Aged Blind and Disabled and other state-based programs, such as Children’s Health Insurance Program and Managed Long-Term Care programs. The Medicare program provides health care coverage primarily to individuals age 65 or older, as well as to individuals with certain disabilities. It has contracts with Centers for Medicare & Medicaid Services to serve as a plan sponsor offering Medicare Part D PDP plans to Medicare-eligible beneficiaries through its Medicare PDPs segment. WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Recent Trading Information
WELLCARE HEALTH PLANS, INC. (NYSE:WCG) closed its last trading session up +0.46 at 143.41 with 243,826 shares trading hands.
WellCare Health Plans, Inc. is a managed care company focused on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs) to families, children, seniors and individuals with complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs. The Medicaid Health Plans segment includes plans for beneficiaries of Temporary Assistance for Needy Families, Supplemental Security Income, Aged Blind and Disabled and other state-based programs, such as Children’s Health Insurance Program and Managed Long-Term Care programs. The Medicare program provides health care coverage primarily to individuals age 65 or older, as well as to individuals with certain disabilities. It has contracts with Centers for Medicare & Medicaid Services to serve as a plan sponsor offering Medicare Part D PDP plans to Medicare-eligible beneficiaries through its Medicare PDPs segment. WELLCARE HEALTH PLANS, INC. (NYSE:WCG) Recent Trading Information
WELLCARE HEALTH PLANS, INC. (NYSE:WCG) closed its last trading session up +0.46 at 143.41 with 243,826 shares trading hands.
