LabCorp Announces Pricing Terms of Its Tender Offer for up to $300,000,000 Principal Amount of Its Outstanding 4.625% Senior Notes Due 2020

LabCorp (NYSE: LH) announced today the pricing terms of its previously announced cash tender offer (the Offer) for up to $300,000,000 principal amount (the Tender Cap) of its outstanding $600,000,000 aggregate principal amount of 4.625% Senior Notes due 2020 (the Notes). The terms and conditions of the Offer are described in the Offer to Purchase dated Nov. 18, 2019 (the Offer to Purchase) and remain unchanged.

The total consideration (the Total Consideration) for the Notes is based on the yield to maturity of the applicable U.S. Treasury Security (the Reference Yield) plus a fixed spread, as set forth in the table below. The Reference Yield (as determined pursuant to the Offer to Purchase) was determined at 10:00 a.m. EST today, Dec. 3, 2019, by the dealer managers (identified below).

The following table sets forth certain information regarding the Offer, including the Reference Yield and the Total Consideration:

Title of Security	CUSIP Number	Reference U.S. Treasury Security	Reference Yield	Fixed Spread (basis points)	Total Consideration (per $1,000)
4.625% Senior Notes due 2020	50540RAJ1	1.50% UST due Aug 15, 2020	1.663%	30 bps	$1,018.36

The Total Consideration is payable to holders of Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m. EST on Dec. 2, 2019 (the Early Tender Deadline) and accepted for purchase by LabCorp. The Total Consideration includes an early tender premium of $30.00 per $1,000 principal amount of Notes validly tendered and not validly withdrawn by such holders and accepted for purchase by LabCorp (the Early Tender Premium). All payments for Notes purchased in connection with the Early Tender Deadline will also include accrued and unpaid interest on the principal amount of Notes tendered up to, but not including, the Early Settlement Date, which is currently expected to be Dec. 4, 2019.