Molina Healthcare Inc. said it has completed the sale Thursday of $200 million of 3.75 percent convertible senior notes, which included options for underwriters to purchase an additional $25 million in notes.

The Long Beach-based managed care company plans to use the proceeds from the offering to repay debt and cover its pending acquisition of Mercy CarePlus in Missouri. The notes are due in 2014. Citi and UBS Investment Bank were the joint book-running managers for the offering.

Molina shares closed up 1.7 percent, or 57 cents, in trading Thursday.