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LabCorp Prices $500 Million In 2.20% Senior Notes Due 2017 And $500 Million In 3.75% Senior Notes Due 2022

Stocks in this article: LH

Laboratory Corporation of America ® Holdings (LabCorp ®) (NYSE: LH) announced today that it has priced its offering of $1 billion in senior notes. The offering consists of two tranches: $500 million aggregate principal amount of 2.20% Senior Notes due 2017 (the “2017 Notes”) and $500 million aggregate principal amount of 3.75% Senior Notes due 2022 (the “2022 Notes,” and together with the 2017 Notes, the “Notes”). The Notes will bear interest from August 23, 2012, payable semi-annually on August 23 and February 23, commencing on February 23, 2013. The closing of the offering is expected to occur on August 23, 2012, subject to the satisfaction of customary closing conditions. The Notes will be senior unsecured obligations and will rank equally with LabCorp’s existing and future senior unsecured debt.

LabCorp intends to use the net proceeds of this offering to repay certain amounts outstanding under its existing credit facility dated December 21, 2011, and for general corporate purposes.

The active joint book-running managers for the offering are BofA Merrill Lynch and Credit Suisse. Barclays and Wells Fargo Securities are acting as passive joint book-running managers. BB&T Capital Markets; Citigroup; Mitsubishi UFJ Securities; and TD Securities are acting as co-managers. The offering will be made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”). A copy of the prospectus and related prospectus supplement may be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, 250 Vesey Street, 7th Floor, New York, New York 10080 or by calling toll-free 1-800-294-1322 or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or by calling toll-free 1-800-221-1037 or by emailing: newyork.prospectus@credit-suisse.com.

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 prospectus.

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