LabCorp says zero-coupon convertibles to accrue interest to mid-March

By Susanna Moon

Chicago, Sept. 12 - Laboratory Corporation of America Holdings said its zero-coupon convertible subordinated notes due 2021 will accrue contingent cash interest from Thursday to March 11.

The convertibles will accrue interest at a rate of at least 0.125% of the average market price of a zero-coupon note for the five trading days ended Monday in addition to the continued accrual of the original issue discount, according to a company press release.

The contingent cash interest, which has been set at $1.62 per note, will be payable to holders of record as of Feb. 24.

The payment will be made on March 11.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.