Amerigroup plans $50 million debt offering

Posted to: Amerigroup Business News Virginia Beach
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By Christopher Dinsmore
The Virginian-Pilot
© January 13, 2012

Amerigroup Corp., which manages health care for 2 million people in 11 states, announced Thursday that it plans to sell $50 million of notes. The senior unsecured notes will pay an interest rate of 7.5 percent and be due in 2019. The offering is a reopening of a $400 million offering from November.

Based in Virginia Beach, Amerigroup intends to use the proceeds for "general corporate purposes, including acquisitions and/or business development opportunities."

The offer is subject to market conditions and is being managed by Goldman Sachs & Co. Amerigroup coordinates services for individuals in publicly funded health care programs, particularly Medicaid.

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Wow, what not a great opportunity for investment

Submitted by LilDoeBoe8 on Fri, 01/13/2012 at 7:20 am.

"Unsecured" is the key word. Maybe they could start making solar panels as a side business and get a $400 million dollar "unsecured loan" from the taxpayers lickety split!