LABCORP PRICES $650,000,000 IN 4.350% SENIOR NOTES DUE 2030, $500,000,000 IN 4.550% SENIOR NOTES DUE 2032 AND $850,000,000 IN 4.800% SENIOR NOTES DUE 2034
BY PR Newswire | CORPORATE | 09/16/24 06:35 PM EDTBURLINGTON, N.C., Sept. 16, 2024 /PRNewswire/ -- Labcorp Holdings Inc.
The Offering will be made pursuant to an effective shelf registration statement on Form S-3 of Labcorp
LCAH expects to use the net proceeds of the Offering to redeem or repay indebtedness, which is expected to include $400.0 million of LCAH's outstanding 2.30% Senior Notes due December 1, 2024 and $1.0 billion of LCAH's outstanding 3.60% Senior Notes due February 1, 2025. In addition, LCAH intends to use the net proceeds of the Offering to repay $350.0 million of borrowings under its revolving credit facility, and, to the extent not used for such purpose, for other general corporate purposes.
The joint book-running managers and representatives for the Offering are BofA Securities, US Bancorp, and Wells Fargo Securities, the book-running managers for the Offering are Goldman Sachs & Co. LLC, MUFG, and PNC Capital Markets LLC and the co-managers for the Offering are Barclays, Citigroup, Citizens Capital Markets, Credit Agricole CIB, Fifth Third Securities, J.P. Morgan, KeyBanc Capital Markets, TD Securities, Truist Securities, and UBS Investment Bank. A copy of the base prospectus and related prospectus supplement may be obtained without charge from the SEC. Alternatively, a copy of the base prospectus and related prospectus supplement may be obtained from BofA Securities, Inc. by calling toll-free 1-800-294-1322, from U.S. Bancorp Investments, Inc. by calling toll-free 1-877-558-2607, or from Wells Fargo Securities, LLC by calling toll-free 1-800-645-3751.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the accompanying base prospectus.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements including statements about the proposed offering of the Notes and use of proceeds therefrom. Each of the forward-looking statements is subject to change based on various important factors, including the risk that the offering may not be completed. As a result, readers are cautioned not to place undue reliance on any of these forward-looking statements. Labcorp
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SOURCE Labcorp Holdings Inc