MADISON, N.J., June 17 /PRNewswire-FirstCall/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services, announced today the final results for its previously announced cash tender offer to purchase up to $200 million total aggregate principal amount (the "Tender Cap") of its 5.125% Senior Notes due 2010 and 7.50% Senior Notes due 2011 (collectively, the "Notes"). The terms and conditions of the tender offer are described in the Offer to Purchase, dated May 19, 2009 and related Letter of Transmittal.
The table below identifies the principal amount of each series of Notes validly tendered and the principal amount of each series that Quest Diagnostics has accepted for purchase, as well as the relevant proration factor for each series of Notes. The amount of Notes accepted was determined in accordance with the Acceptance Priority Level shown in the table below, subject to the Tender Cap.
Aggregate Accept- Principal ance Principal Principal CUSIP Title of Amount Priority Amount Amount Proration Number Security Outstanding Level Tendered Accepted Factor --------- -------- ------------ ------- ------------ ------------ ----- 74834LAK6 5.125% $400,000,000 1 $173,637,000 $173,637,000 N/A Senior Notes due 2010 74834LAE0 7.50% $275,000,000 2 $48,720,000 $26,363,000 54.141% Senior Notes due 2011
Settlement of the tender offer is expected to occur on June 18, 2009.
Quest Diagnostics has retained Banc of America Securities LLC to act as Lead Dealer Manager and Calyon Securities (USA) Inc. and Mitsubishi UFJ Securities (USA), Inc. to serve as Co-Dealer Managers. Global Bondholder Services Corporation has been retained to serve as the depositary and as the information agent for the tender offer.
For additional information regarding the terms of the tender offer, please contact: Banc of America Securities LLC at (888) 292-0070 (toll free) or (980) 388-4603 (collect).
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at www.QuestDiagnostics.com.
The statements in this press release which are not historical facts may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse results from pending or future government investigations, lawsuits or private actions, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors discussed in "Business" in Part I, Item 1, "Risk Factors" and "Cautionary Factors that May Affect Future Results" in Part I, Item 1A, "Legal Proceedings" in Part I, Item 3, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 and "Quantitative and Qualitative Disclosures About Market Risk" in Part II, Item 7A in the company's 2008 Annual Report on Form 10-K and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures About Market Risk" in the company's 2009 Quarterly Report on Form 10-Q and other items throughout the Form 10-K and the company's 2009 Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Contacts: Laure Park (Investors): 973-520-2900 Wendy Bost (Media): 973-520-2800
|SOURCE Quest Diagnostics Incorporated|
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