Labcorp issues $2B in three tranches to refinance near-term debt maturities

LABCORP HOLDINGS INC.

Issued $650M 4.350% notes due 2030, $500M 4.550% notes due 2032, $850M 4.800% notes due 2034.
Net proceeds ~$1.982B to redeem 2.300% notes due 2024, 3.600% notes due 2025, and $350M revolver borrowings.
Interest payable semi-annually from April 1, 2025; notes redeemable at make-whole premium before respective par call dates.
Notes are senior unsecured obligations guaranteed by Labcorp Holdings Inc.; covenants limit liens and subsidiary debt.
Offering completed under effective shelf registration; underwritten public offering.

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