LabCorp may use proceeds from new note offering for loan repayment

Chicago, Nov. 18 – Laboratory Corp. of America Holdings may use the proceeds from a new senior note offering to repay some or all of the amount outstanding under its term loan credit facilities, according to a press release.

The company additionally announced a tender offer for its 2.625% senior notes due Feb. 1, 2020 and its 4.625% senior notes due Nov. 15, 2020 on Monday.

The new notes will be offered in two tranches with BofA Securities, Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC acting as the bookrunners.

Burlington, N.C.-based LabCorp develops diagnostic technologies through genomic testing.

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