Quest Diagnostics to repay debt under revolver, receivables facility

By Susanna Moon

Chicago, May 23 – Quest Diagnostics Inc. plans to repay debt under its senior revolving credit facility due April 25, 2019 and its secured receivables credit facility due Oct. 27, 2017, according to a 424B3 filing with the Securities and Exchange Commission.

Proceeds for the paydown will come from the company’s offering of $500 million of 10-year senior notes.

Interest is Libor plus 112.5 basis points for the revolver and 1.17% for the receivables facility.

Proceeds also will be used for general corporate purposes.

The diagnostic testing company is based in Madison, N.J.

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