LabCorp to price fixed-rate notes in two parts via two bookrunners

By Devika Patel

Knoxville, Tenn., Aug. 15 – Laboratory Corp. of America Holdings intends to sell dollar-denominated fixed-rate senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Merrill Lynch and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including to repay at maturity the company’s 2.2% senior notes due Aug. 23, 2017 and to repay borrowings under its revolving credit facility.

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

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