Quest Diagnostics To Offer $1.20 Bln Of Three Series Of Senior Notes

(RTTNews) - Quest Diagnostics Inc. (DGX) announced that it intends to offer $1.20 billion in aggregate principal amount of three series of senior notes in a public offering made under a shelf registration statement filed with the Securities and Exchange Commission, subject to market and other conditions.

The company plans to use the net proceeds from the offering, together with borrowings from our secured receivables credit facility, to fund the purchase for cash of up to $250 million in combined aggregate principal amount of its 6.950% Senior Notes due 2037 and its 5.750% Senior Notes due 2040, and to redeem all $500 million of its outstanding 5.450% Senior Notes due 2015, all $375 million of its outstanding 6.400% Senior Notes due 2017 and $150 million (50%) of its outstanding 3.200% Senior Notes due 2016.