NEW YORK – Laboratory Corporation of America has closed its $2.0 billion public offering of senior notes, the company said Tuesday in a document filed with the US Securities and Exchange Commission.
The firm said it has entered into a base indenture and supplemental indentures with US Bank for $2.0 billion in debt securities. The total amount includes $650 million aggregate principal amount of 4.35 percent senior notes due in 2030, $500 million aggregate principal amount of 4.55 percent senior notes due in 2032, and $850 million aggregate principal amount of 4.8 percent senior notes due in 2034.
The notes will pay interest on a semiannual basis beginning in 2025.
Labcorp noted that the net proceeds will be used to redeem or repay indebtedness, including $350 million of borrowings under its revolving credit facility, and for other general corporate purposes.