Labcorp enters $300M accounts receivable securitization; accordion to $700M

LABCORP HOLDINGS INC.

Three-year $300M securitization facility with PNC Bank, dated August 23, 2024.
Accordion feature allows increase to $700M upon certain conditions.
Labcorp Receivables LLC, a wholly owned SPV, sells/pledges receivables to purchasers.
Labcorp Holdings guarantees performance of originators and servicer, but not collectability.
Interest accrues at SOFR plus 0.10% adjustment and applicable margin.

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