CNC · 10-Q · 2026Q1 · Full report

Outstanding Indebtedness

CENTENE CORP · 2026-04-28 · Importance 69 · Surprise 50

As of March 31, 2026, Centene had $14.5 billion aggregate principal amount of senior notes issued and outstanding, with maturities between December 2027 and August 2031.,During Q1 2026 the company repurchased $1.0 billion par value of Senior Notes under its senior note repurchase program (program increase authorized February 2026) and had $484 million available under that debt repurchase program as of March 31, 2026.,Centene had $2.0 billion outstanding under its Term Loan Facility, no borrowings under its $4.0 billion Revolving Credit Facility, $113 million of letters of credit outstanding, surety bonds of $787 million, and a debt‑to‑capital ratio of 43.2% at March 31, 2026 (down from 46.5% at December 31, 2025).

Key facts

• Revolving Credit Facility principal amount: $4.0 billion; Term Loan Facility principal amount: $2.0 billion.
• As of March 31, 2026, aggregate principal amount of senior notes issued and outstanding: $14.5 billion.
• Senior notes maturities range between December 2027 and August 2031.
• Maximum debt-to-capital ratio under the credit agreement: 0.60 to 1.00.
• As of March 31, 2026, outstanding surety bonds: $787 million.
• Interest expense for Q1 2026: $(164) million, a decrease of $6 million compared to $(170) million in Q1 2025.
• As of March 31, 2026, outstanding letters of credit: $113 million, with weighted interest of 0.8%.

Impact estimates