LabCorp sets contingent cash interest on 0% convertible notes due 2021

By Susanna Moon

Chicago, March 13 – Laboratory Corp. of America Holdings will pay about $2.39 of contingent cash interest for each of its zero-coupon convertible subordinated notes due 2021.

The contingent cash interest will be paid on Sept. 12 to holders of record on Aug. 27.

Interest accrues at a rate of at least 0.125% of the average market price of the 0% notes for the five trading days ended March 8, in addition to the continued accrual of the original issue discount, according to an 8-K filing with the Securities and Exchange Commission.

Burlington, N.C.-based LabCorp develops diagnostic technologies.

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