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Quest Diagnostics Prices $800M Offering of Senior Notes

NEW YORK – Quest Diagnostics said after the close of the market on Monday that it has priced its public offering of $800 million aggregate principal amount of its 2.95 percent senior notes due in 2030.

In a document filed with the US Securities and Exchange Commission on Monday, the company said it intends to use the net proceeds from the offering to repay at maturity or redeem its $500 million aggregate principal amount of 4.75 percent senior notes and its $300 million aggregate principal amount of 2.50 percent senior notes, both due 2020.

The 4.75 percent notes mature on Jan. 30, 2020, and the 2.50 percent notes mature on March 30, 2020.

The new notes being offered mature on June 30, 2030, according to an SEC document. 

The Secaucus, New Jersey-based firm said that also intends to use proceeds for general corporate purposes.

The offering is expected to close on Dec. 16.

The joint book-running managers on the offering are JP Morgan Securities; Morgan Stanley; Wells Fargo Securities; Goldman Sachs; and Mizuho Securities USA. The comanagers are Credit Agricole Securities; MUFG Securities Americas; Fifth Third Securities; PNC Capital Markets; Bank of America Securities; and KeyBanc Capital Markets.