Skip to main content

LabCorp Prices $1B of Senior Notes

NEW YORK (GenomeWeb News) – Laboratory Corporation of America after the close of the market Monday priced $1 billion of senior notes in two tranches.

The clinical lab giant is offering $500 million of 2.2 percent senior notes due 2017 and $500 million of 3.75 percent senior notes due 2022. The notes bear interest from Aug. 23, 2012, payable in semi-annual installments on Aug. 23 and Feb. 23, beginning Feb. 23, 2013.

LabCorp said that it will use the proceeds from the offering to repay certain amounts outstanding under its existing credit facility dated Dec. 21, 2011, as well as for general corporate purposes.

BofA Merrill Lynch and Credit Suisse are active joint book-running managers on the offering, while Braclays and Wells Fargo Securities are passive joint book-running managers. BB&T Capital Markets, Citigroup, Mitsubishi UFJ Securities, and TD Securities are co-managers.

The Scan

US Supports Patent Waivers

NPR reports that the Biden Administration has announced its support for waiving intellectual property protections for SARS-CoV-2 vaccines.

Vaccines Versus Variants

Two studies find the Pfizer-BioNTech SARS-CoV-2 vaccine to be effective against viral variants, and Moderna reports on booster shots to combat variants.

CRISPR for What Ails You

The Wall Street Journal writes that CRISPR-based therapies could someday be used to treat common conditions like heart attacks.

Nature Papers Review Integration of Single-Cell Assay Data, Present Approach to Detect Rare Variants

In Nature this week: review of ways to integrate data from single-cell assays, and more.