04:39 AM EDT, 08/16/2024 (MT Newswires) -- Quest Diagnostics ( DGX ) said late Thursday it priced a public notes offering totaling $1.85 billion, comprising $400 million of 4.60% senior notes due 2027, $600 million of 4.63% senior notes due 2029, and $850 million of 5% senior notes due 2034.

Net proceeds from the offering, which is expected to close on Aug. 19, will be used to fund the acquisition of LifeLabs and related entities, as well as for general corporate purposes, including redeeming the company's $600 million of 3.50% senior notes due 2025.

If the LifeLabs acquisition is not completed, the 2027 and 2029 notes will be subject to a special mandatory redemption at 101% of their principal amount plus accrued interest, the company said.