Laboratory Corporation of America Holdings Prices $250 Million In Senior Notes Due 2015

BURLINGTON, N.C., Dec. 9 /PRNewswire-FirstCall/ -- Laboratory Corporation of America(R) Holdings (LabCorp(R)) today announced that it has priced its $250 million aggregate principal amount of Senior Notes due 2015, pursuant to LabCorp's new shelf registration statement. The Notes will bear interest at the rate of 5.625% per annum from December 14, 2005, payable semi- annually on June 15 and December 15, commencing on June 15, 2006. The closing of the offering is expected to occur on December 14, 2005, subject to the satisfaction of customary closing conditions.

LabCorp intends to use the net proceeds of the senior notes, together with cash on hand, to repay borrowings under its senior credit facility which will be used to repurchase shares of LabCorp's common stock.

A copy of the prospectus and prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001 or by calling 1-800-294-1322 or e-mailing dg-prospectus-distribution@bofasecurities.com.

About LabCorp

Laboratory Corporation of America Holdings and its subsidiaries, headquartered in Burlington, North Carolina, is the second largest independent clinical laboratory company in the United States based on 2004 net revenues. Through its national network of laboratories, the Company offers a broad range of clinical laboratory tests which are used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease. In addition, the Company has developed specialty and niche businesses based on certain types of specialized testing capabilities and client requirements, such as oncology testing, HIV genotyping and phenotyping, diagnostic genetics and clinical research trials.

Laboratory Corporation of America Holdings

CONTACT: Investors, Scott Fleming, +1-336-436-4879, or Media, Pam Sherry,+1-336-436-4855, or Shareholder Direct, +1-800-LAB-0401

Back to news