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LabCorp Prices $300M Senior Notes Tender Offer

NEW YORK – Laboratory Corporation of America announced pricing on Monday for its previously announced cash tender offer for up to $300 million of senior notes.

The company is offering total consideration of $1,018.36 per $1,000 payable to holders of notes tendered at or prior to 5pm EST on Dec. 2, 2019, which it has set as the early tender deadline. This total consideration includes an early tender premium of $30.00 per $1,000.

Shareholders who tender their notes after the early deadline will receive the total consideration amount minus the early tender premium.

The tender offer will expire at 11:59 p.m. EST on Dec. 16, 2019 unless it is extended or terminated early by the company.

LabCorp aims to purchase up to $300 million of its outstanding $600 million in 4.625 percent senior notes due 2020.