Quest Diagnostics calls all $250 million 1¾% contingent convertibles

By Caroline Salls

Pittsburgh, Dec. 15 - Quest Diagnostics Inc. said it will redeem all its $250 million outstanding 1¾% contingent convertible debentures due 2021 at par plus accrued interest.

Holders may convert their debentures into shares of Quest common stock at a conversion price of $87.50 per share.

If all the debentures are converted, the company will issue 2.9 million shares.

Quest stock was at $94.48 Wednesday afternoon.

Quest Diagnostics is a Teterboro, N.J., provider of diagnostic testing, information and services.

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