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Article: Laboratory Corporation of America(R) Holdings Commences Exchange Offer For its Outstanding Liquid Yield Option(TM) Notes Due 2021.
- Article from:
- PR Newswire
- Article date:
- September 22, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BURLINGTON, N.C., Sept. 22 /PRNewswire-FirstCall/ -- Laboratory Corporation of America(R) Holdings (LabCorp(R)) announced today that it has commenced an exchange offer related to its currently outstanding Liquid Yield Option(TM) Notes (LYONs) due 2021.
In the exchange offer, LabCorp is offering to exchange, upon the terms and subject to the conditions set forth in the prospectus relating to the exchange offer, a new series of Zero Coupon Convertible Subordinated Notes due September 11, 2021 (the New Notes) and an exchange fee of $2.50 per $1,000 aggregate principal amount at maturity for all of the outstanding LYONs due 2021.
The purpose of the ...