Quest to repay credit facility borrowings via notes offering proceeds

By Tali Rackner

Norfolk, Va., March 12 - Quest Diagnostics Inc. plans to repay outstanding debt under its senior unsecured revolving credit facility and secured receivables credit facility with the proceeds from two new senior notes offerings, according to a 424B3 filing with the Securities and Exchange Commission.

As of Tuesday, there was $460 million of debt outstanding under the company's secured receivables credit facility, which matures in December 2014, and $200 million of debt outstanding under the senior unsecured revolving credit facility, which matures in September 2016.

Any remaining proceeds will be used for general corporate purposes.

Quest Diagnostics is a Lyndhurst, N.J.-based company that provides diagnostic testing, information and services.

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