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AI brief of an SEC Form 8-K · Centene (CNC)

Centene Enters $6 Billion Unsecured Credit Facility, Repays Existing Credit Agreement

Neutral Impact 3 of 5 financing Written later

Centene entered a new unsecured credit agreement on March 5, 2025, with Wells Fargo as administrative agent, and used it to repay and terminate its existing credit agreement from August 2021. The new facility includes a $4 billion revolving credit line and a $2 billion term loan, both maturing March 5, 2030, giving the company a new, longer-dated source of borrowing for shareholders to track.

Key points

  • Revolving credit facility of $4 billion and term loan facility of $2 billion, maturing March 5, 2030
  • Term loan drawn in full on the effective date; proceeds used to refinance existing debt, pay fees, and for working capital and general corporate purposes
  • Quarterly debt-to-capital covenant capped at 0.60 to 1.00, with a step-up to 0.65 to 1.00 after a material acquisition
  • Existing Fourth Amended and Restated Credit Agreement dated August 16, 2021 was terminated and repaid

The filing

CompanyCentene (CNC)
Form8-K, current report
Filed with the SECMar 5, 2025, 4:53 PM ET
Accession number0001071739-25-000040

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 05, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.