LabCorp 0% convertibles accrue contingent cash interest to March 11

By Jennifer Chiou

New York, Sept. 13 - Laboratory Corp. of America Holdings announced that its zero-coupon convertible subordinated notes due 2021 will accrue contingent cash interest of $1.38 per note from Sept. 12 until March 11.

According to a news release, the notes accrue contingent cash interest at a rate of no less than 0.125% of the average market price of a note for the five trading days ended Sept. 7 in addition to the continued accrual of the original issue discount.

The record date is Feb. 24, 2012, and the payment date is set for March 11.

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

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