Labcorp Holdings Inc. has entered into a Fourth Amended and Restated Credit Agreement, effective June 27, 2025, with Bank of America, N.A. as the administrative agent and other lenders. This agreement establishes a $1 billion senior unsecured revolving credit facility, which includes a $100 million swingline subfacility and a $150 million sublimit for issuing letters of credit. The facility is set to mature on June 27, 2030, and replaces the previous credit agreement dated April 30, 2021. Labcorp has the option to increase the credit facility by up to $500 million, contingent on additional lender commitments. The interest on borrowings will be determined by a floating rate, based on either a SOFR-based rate or a base rate, with margins dependent on Labcorp's long-term debt ratings. The agreement also includes a facility fee and contains customary covenants and conditions.
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