secwatch.observer — SEC 8-K summary
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Issuer:     LABCORP HOLDINGS INC. (LH)
CIK:        0000920148
Form:       8-K
Filed at:   2024-08-23T23:59:59+00:00
Accession:  0000920148-24-000103
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920148/000092014824000103/0000920148-24-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920148/000092014824000103/lh-20240823.htm
  HTML page:      https://secwatch.observer/filing/0000920148-24-000103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer