debt
confidence high
sentiment neutral
materiality 0.75
Quest Diagnostics prices $1.85B in senior notes to fund LifeLabs acquisition
QUEST DIAGNOSTICS INC
- Issued $400M at 4.600% due 2027, $600M at 4.625% due 2029, $850M at 5.000% due 2034.
- Net proceeds to fund LifeLabs purchase price and related costs, plus general corporate purposes.
- 2027 and 2029 notes subject to special mandatory redemption at 101% if LifeLabs deal not completed.
- 2034 notes will remain outstanding even if LifeLabs acquisition is not consummated.
- By-laws amended to provide officer exculpation as permitted by Delaware law.