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Laboratory Corporation of America Holdings (LH: Quote) said Monday that it plans to offer senior notes that are expected to be issued in two tranches with maturities of 5 and 10 years.

The Notes will be senior unsecured obligations and will rank equally with LabCorp's existing and future senior unsecured debt.

The company said it plans to use the net proceeds of the offering to repay certain amounts outstanding under its existing credit facility dated December 21, 2011, and for general corporate purposes.

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