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LabCorp raising $2.9 billion to help fund Covance purchase

2015-01-22 20:12:56| Biotech - Topix.net

As it heads toward potentially closing on its $6.1 billion purchase of Covance next month, Burlington-based Laboratory Corp. of America is looking to sell $2.9 billion in senior notes to help fund the deal. LabCorp announced the offering Wednesday , with the notes being sold in four tranches with maturities between 2020 and 2045, and interest rates from 2.625 percent to 4.7 percent, depending on maturity date.

Tags: purchase fund billion raising

Category:Biotechnology and Pharmaceuticals

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