Quest Diagnostics refinances long-term debt:
This article was originally published in Clinica
Executive Summary
Quest Diagnostics plans to refinance the majority of its long-term debt and will take a special charge of up to $45 million. The Teterboro, New Jersey company has begun a cash tender offer for the outstanding $150 million principal amount of its 10.75% senior subordinated notes, which are due in 2006. Quest has also received commitments for $650 million of unsecured bank debt from a group of banks led by Bank of America and UBS Warburg.