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Quest Selling Notes

It will use proceeds to pay for the LabOne deal.
Author:

Quest Diagnostics

(DGX) - Get Quest Diagnostics Incorporated Report

said it would sell $900 million worth of senior notes in a private placement to complete its acquisition of

LabOne

(LABS)

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.

The Lyndhurst, N.J., lab company said the notes will be guaranteed on a senior, unsecured basis by its domestic clinical laboratories. The company has agreed to exchange these private notes for publicly tradable notes having substantially identical terms, and will file a registration statement with the

Securities and Exchange Commission

. The company expects the offering will be completed by Oct. 31.

On Tuesday, Quest fell 13 cents to $46.55 and LabOne was flat at $43.85.