Hogan Lovells Advises LabCorp® on $700 Million Offering of Senior Notes

WASHINGTON, D.C. 4 November 2013 – Hogan Lovells today announced its corporate team helped a pioneer in commercializing new diagnostic technologies, Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH), finance an offering of $700 million in senior notes. The proceeds will allow LabCorp to repay outstanding borrowings under its existing credit facility, and for general corporate purposes.

The offering consists of two tranches, including a $400 million aggregate principal amount of 2.5% senior notes due in 2018, and a $300 million aggregate principal amount of 4% senior notes due in 2023.

LabCorp was the first in its industry to embrace genomic testing. With annual revenues of $5.7 billion in 2012, more than 34,000 employees worldwide, and more than 220,000 clients, LabCorp offers more than 4,000 tests ranging from routine blood analyses to reproductive genetics to companion diagnostics. The active joint book-running managers for the offering are Barclays Capital Inc. and Wells Fargo Securities, LLC. Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. are acting as passive joint book-running managers. Fifth Third Securities, Inc., Lazard Capital Markets LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and U.S Bancorp Investments, Inc. are acting as co-managers.

The Hogan Lovells team included partners Michael Silver (New York/Baltimore), Eve Howard (Washington), William Intner (Baltimore), Scott Lilienthal (Washington), and associates Tifarah Allen (Washington), Venroy July (Baltimore), and Cara Shepley (Baltimore).

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