LabCorp: 0% convertibles accrue contingent cash interest to March 11

By Susanna Moon

Chicago, Sept. 12 – Laboratory Corp. of America Holdings said its zero-coupon convertible subordinated notes due 2021 will accrue contingent cash interest from Sept. 12 to March 11, 2015.

The contingent cash interest is expected to be about $1.80 per note, according to a company press release.

The convertibles will accrue contingent cash interest at a rate of at least 0.125% of the average market price of a zero-coupon note for the five trading days ended Sept. 9, in addition to the continued accrual of the original issue discount, the company said.

The payment date will be March 11, 2015 to holders of record on Feb. 24, 2015.

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

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