Corporate team from Hogan Lovells helps LabCorp finance senior note offering

Hogan Lovells’ corporate team has helped Laboratory Corporation of America Holdings (LabCorp) finance an offering of $700m (£440m) in senior notes. The proceeds will allow LabCorp to repay outstanding borrowings under its existing credit facility and will also be used for general corporate purposes.

The offering consists of two tranches, including a $400m aggregate principal amount of 2.5 per cent senior notes due in 2018 and a $300m aggregate principal amount of four per cent senior notes due in 2023.

The active joint book-running managers for the offering are Barclays Capital and Wells Fargo Securities. Credit Suisse Securities (USA) and Goldman, Sachs & Co are acting as passive joint book-running managers. Fifth Third Securities, Lazard Capital Markets, Merrill Lynch, Pierce, Fenner & Smith and US Bancorp Investments are acting as co-managers.

The Hogan Lovells team included partners Michael Silver (New York/Baltimore), Eve Howard (Washington), William Intner (Baltimore) and Scott Lilienthal (Washington) and associates Tifarah Allen (Washington), Venroy July (Baltimore) and Cara Shepley (Baltimore).