Quest Sells $1.85 Billion of Bonds to Fund LifeLabs Deal (2)

Quest Diagnostics Inc. sold $1.85 billion of bonds to fund its planned acquisition of smaller Canadian testing peer LifeLabs Inc.

The company issued the bonds in three parts, according to a person with knowledge of the matter. The longest portion of the deal, a 10-year bond, yields 1.125 percentage points above Treasuries after initial discussions of around 1.4 percentage points, said the person, who asked not to be identified as the details are private. Quest last sold notes in October 2023.

The company didn’t respond to a request for comment.

When it agreed last month to buy LifeLabs from Canadian ...