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Laboratory Corporation of America Holdings
Conversion Right Triggered for LabCorp's Liquid Yield Option Notes Due 2021 and Zero Coupon Convertible Subordinated Notes Due 2021
October 19th, 2008
Laboratory Corporation of America(R) Holdings (LabCorp(R)) (NYSE:LH) announced that its zero coupon subordinated Liquid Yield Option(TM) Notes due 2021 (LYONs) and Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes) may be converted as set forth below.
LYONs are convertible into Common Stock of LabCorp at the conversion rate of 13.4108 per $1,000 principal amount at maturity of the LYONs, subject to the terms of the LYONs and the Indenture, dated as of September 11, 2001 between LabCorp and The Bank of New York, as trustee (Trustee) and conversion agent. The Zero Coupon Notes are convertible into cash and Common Stock of LabCorp, if any, subject to the...
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Source: Marketing Business Weekly (2008-10-19)