LYNDHURST, N.J., June 20 /PRNewswire-FirstCall/ -- Quest Diagnostics
Incorporated (NYSE: DGX), 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:
dg.prospectus_distribution@bofasecurities.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.
SOURCE Quest Diagnostics
-0- 06/20/2007
/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 /
(DGX)
CO: Quest Diagnostics
ST: New Jersey
IN: CPR HEA
SU:
DO-CF
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1578 06/20/2007 09:45 EDT http://www.prnewswire.com