Molina Healthcare Enters Material Definitive Agreement

TL;DR

MOH just signed a big deal, check the 8-K for details.

AI Summary

Molina Healthcare, Inc. entered into a material definitive agreement on September 20, 2024, related to a direct financial obligation. The filing, dated September 23, 2024, details this agreement and includes financial statements and exhibits.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Molina Healthcare, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements can introduce financial risks and obligations that require careful evaluation.

Key Players & Entities

• MOLINA HEALTHCARE, INC. (company) — Registrant
• September 20, 2024 (date) — Date of earliest event reported
• September 23, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.001 — ge on which registered Common Stock , $0.001 Par Value MOH New York Stock Exchang
• $1,000,000,000 — ompany's revolving credit facility from $1,000,000,000 to $1,250,000,000; the definition of "
• $1,250,000,000 — credit facility from $1,000,000,000 to $1,250,000,000; the definition of "Applicable Margin"
• $500,000,000 — under the Amended Credit Agreement from $500,000,000 to $800,000,000 plus an unlimited amoun
• $800,000,000 — d Credit Agreement from $500,000,000 to $800,000,000 plus an unlimited amount so long as the

Filing Documents

• moh20240922_8k.htm (8-K) — 32KB
• ex_726427.htm (EX-10.1) — 988KB
• 0001437749-24-029806.txt ( ) — 1338KB
• moh-20240920.xsd (EX-101.SCH) — 3KB
• moh-20240920_def.xml (EX-101.DEF) — 11KB
• moh-20240920_lab.xml (EX-101.LAB) — 15KB
• moh-20240920_pre.xml (EX-101.PRE) — 11KB
• moh20240922_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 20, 2024, Molina Healthcare, Inc. (the "Company") entered into a Second Amendment to its Credit Agreement (the "Amended Credit Agreement") among the Company, as the Borrower, the Lenders (as defined therein), and Truist Bank, as Administrative Agent, Issuing Bank and Swingline Lender. The Amended Credit Agreement amends and restates the Company's prior Credit Agreement dated as of June 8, 2020 (as amended prior to September 20, 2024, the "Prior Credit Agreement"). The terms of the Amended Credit Agreement are substantially similar to the terms of the Prior Credit Agreement, except for the following material changes to the Prior Credit Agreement: the definition of "Aggregate Revolving Commitments" was revised to reflect an increase in the Company's revolving credit facility from $1,000,000,000 to $1,250,000,000; the definition of "Applicable Margin" was revised to adjust the per annum percentages in the table set forth therein so that the applicable margins range between 0.0% to 1.00% for base rate loans and 1.00% to 2.00% for SOFR based loans, in each case based upon the Company's Consolidated Net Leverage Ratio (as defined in the Amended Credit Agreement) and the quarterly commitment fee under the Amended Credit Agreement ranges between of 0.25% to 0.35% (based upon the Company's Consolidated Net Leverage Ratio) of the unused amount of commitments under the Amended Credit Agreement; the definition of "Revolving Commitment Termination Date" was revised to reflect an extension of the maturity date from June 8, 2025 to September 20, 2029; Section 2.23 was revised to reflect an increase in the aggregate principal amount of incremental term loans that may be established under the Amended Credit Agreement from $500,000,000 to $800,000,000 plus an unlimited amount so long as the Consolidated Net Leverage Ratio is not greater than 4.00:1.00; and Section 6.1 was revised to permit the Company to incre

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1* Second Amendment to Credit Agreement, dated as of September 20, 2024, by and among the Company, the Lenders party thereto and Truist Bank, as Administrative Agent, Issuing Bank and Swingline Lender. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Certain schedules (or similar attachments) to this exhibit have been omitted pursuant to Regulation S-K, Item 601(a)(5). The registrant agrees to furnish a copy of any omitted schedule (or similar attachment) to the Securities and Exchange Commission upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MOLINA HEALTHCARE, INC. Date: September 23, 2024 By: /s/ Jeff D. Barlow Jeff D. Barlow Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR