Laboratory Corporation of America Holdings (LabCorp)'s Zero Coupon Convertible Subordinated Notes Due 2021 to Accrue Contingent Interest
Published: Mar 12, 2013
BURLINGTON, N.C.--(BUSINESS WIRE)--Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) announced today that for the period of March 12, 2013 to September 11, 2013, its Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes) will, subject to the terms of the Zero Coupon Notes, accrue contingent cash interest at a rate of no less than 0.125% of the average market price of a Zero Coupon Note for the five trading days ended March 6, 2013, in addition to the continued accrual of the original issue discount. Contingent cash interest, which the Company has determined to be approximately $1.49 per Note, will be payable to holders of the Zero Coupon Notes as of the record date, which is August 27, 2013. The payment of contingent cash interest is expected to be made on September 11, 2013.