Labcorp $2 billion senior notes offering
The investment-grade notes are due 2030, 2032 and 2034
Davis Polk advised the joint book-running managers and representatives of the underwriters on a public offering of $650 million aggregate principal amount of 4.350% senior notes due 2030, $500 million aggregate principal amount of 4.550% senior notes due 2032 and $850 million aggregate principal amount of 4.800% senior notes due 2034 by Laboratory Corporation of America Holdings, a wholly owned subsidiary of Labcorp Holdings Inc. The notes are guaranteed by Labcorp Holdings Inc.
Labcorp is a global leader of innovative and comprehensive laboratory services that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. By leveraging its unparalleled diagnostics and drug development capabilities, Labcorp provides insights and accelerates innovations to improve health and improve lives.
The Davis Polk capital markets team included partner Yasin Keshvargar and associates Rachel Jang and Walker Halstad. Partner Kara L. Mungovan and associates Ted Lee and Caleb E. Smith provided tax advice. Counsel Michael Comstock provided environmental advice. Partner David R. Bauer and associates Adrian Rabin and Jay Krishnan provided intellectual property advice. All members of the Davis Polk team are based in the New York office.