Quest Diagnostics Announces Pricing of Senior Notes
Jun 20, 2007
Quest Diagnostics Incorporated , the nation's leading provider of diagnostic testing, information, and services, announced today that it priced $800 million in aggregate principal amount of senior notes in a public offering. The notes were sold in two tranches, as follows: $375 million of 6.40% senior notes due 2017 and $425 million of 6.95% senior notes due 2037. The offering is expected to close on June 22, 2007. The net proceeds of the offering are expected to be used, together with cash on hand, to repay all borrowings under the bridge loan facility incurred to pay a portion of the purchase price and transaction expenses of the previously announced acquisition of AmeriPath, Inc.
The notes will be fully and unconditionally guaranteed on a senior, unsecured basis, by certain of the Company's domestic, wholly owned subsidiaries. The issuance of the notes will be subject to customary closing conditions. Copies of the prospectus and the related preliminary prospectus can be obtained from Morgan Stanley & Co. Incorporated at 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, 866-718-1649; Banc of America Securities LLC at 100 West 33rd Street, New York, New York 10001, Attention: Prospectus Department, 800-294-1322, or by email: email@example.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated at 4 World Financial Center, New York, New York 10080, Attention: Prospectus Department, 866-500-5408.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Quest Diagnostics
Quest Diagnostics is the leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its national network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at www.questdiagnostics.com.
The statements in this press release which are not historical facts or information may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results and outcomes to be materially different. Certain of these risks and uncertainties may include, but are not limited to, competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors described in the Quest Diagnostics Incorporated 2006 Form 10-K and subsequent filings.
First Call Analyst:
SOURCE: Quest Diagnostics
CONTACT: Investors, Laure Park, +1-201-393-5030, or Media, Nancy
Fitzsimmons, +1-201-393-5700, both of Quest Diagnostics
Web site: http://www.questdiagnostics.com/