Financings in Brief: Quest Diagnostics
This article was originally published in The Gray Sheet
Executive SummaryQuest Diagnostics: Clinical testing laboratory business prices $150 mil. of senior subordinated notes due Dec. 15, 2006 at a coupon rate of 10.75%. Proceeds from the offering, which is a step in the spin off of Quest (currently called Corning Clinical Laboratories) from Corning, will be used to "pay-down inter-company debt" to the parent company, Quest says. J.P. Morgan, Goldman Sachs, and Lazard Freres are serving as co-managers for the offering...
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