LabCorp LYONs to pay contingent interest

By Laura Lutz

Des Moines, Sept. 19 - Laboratory Corp. of America Holdings announced that its $744 million of zero coupon subordinated Liquid Yield Option Notes due 2021 will accrue contingent interest for the period Sept. 12, 2006 to March 11, 2007.

Under their terms, the notes will accrue interest at a rate of at least 0.125% of the average market price of a LYON for the five trading days ended Sept 7, in addition to the original issue discount.

Burlington, N.C.-based LabCorp develops diagnostic technologies through genomic testing.

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