SECAUCUS, N.J., Oct. 30,
2023 /PRNewswire/ -- Quest Diagnostics Incorporated
(NYSE: DGX), the world's leading provider of diagnostic information
services, announced today the pricing of a public offering of
$750 million aggregate principal
amount of its 6.400% senior notes due 2033 under Quest Diagnostics'
shelf registration statement.
Quest Diagnostics expects to receive the net offering proceeds
upon closing on November 1, 2023,
subject to customary closing conditions. The company intends to use
the net proceeds from the offering for general corporate purposes,
which may include the redemption or repayment of indebtedness. The
indebtedness the company may redeem or repay with the net proceeds
of the offering includes the company's $300
million aggregate principal amount of 4.25% senior notes due
2024 and any outstanding borrowings under the company's senior
unsecured revolving credit facility and secured receivables credit
facility.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of these securities and
shall not constitute an offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful. This offering may be made only by means of a prospectus
supplement and accompanying base prospectus, copies of which or
information concerning this offering may be obtained by calling
Goldman Sachs & Co. LLC, toll free at 1 (866) 471-2526, Mizuho
Securities USA LLC, toll-free at 1 (866) 271-7403 or
Morgan Stanley & Co. LLC, toll-free at 1 (866)
718-1649.
About Quest Diagnostics
Quest Diagnostics empowers
people to take action to improve health outcomes. Derived from the
world's largest database of clinical lab results, our diagnostic
insights reveal new avenues to identify and treat disease, inspire
healthy behaviors and improve health care management. Quest
Diagnostics annually serves one in three adult Americans and half
the physicians and hospitals in the
United States, and our nearly 50,000 employees understand
that, in the right hands and with the right context, our diagnostic
insights can inspire actions that transform
lives.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, the complexity of billing, reimbursement
and revenue recognition for clinical laboratory testing, changes in
government regulations, changing relationships with customers,
payers, suppliers or strategic partners and other factors discussed
in the company's most recently filed Annual Report on Form 10-K and
in any of the company's subsequently filed Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, including those
discussed in the "Business," "Risk Factors," "Cautionary Factors
that May Affect Future Results" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" sections
of those reports.
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SOURCE Quest Diagnostics