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CenturyLink Inc Terminates Financing Transactions


Monday, 1 Oct 2012 07:17pm EDT 

CenturyLink Inc announced that in light of current market conditions it has decided not to proceed with its previously-announced senior notes offering at this time. CenturyLink opportunistically sought to refinance certain indebtedness of its wholly owned subsidiary Qwest Communications International Inc. (Qwest) at attractive rates. As a result of its decision not to proceed with its senior notes offering, CenturyLink also announced that Qwest is hereby terminating its previously-announced cash tender offer for its outstanding 7.125% Notes due 2018 (CUSIP Number 749121CC1). Qwest is terminating the tender offer because it has determined that the financing condition is unlikely to be satisfied. Qwest has previously committed to redeem on October 26, 2012 all $550 million aggregate principal amount of its 8.00% Notes due 2015. Qwest now expects to fund this redemption with borrowings available to it under CenturyLink's revolving credit facility. 

Company Quote

37.58
-0.1 -0.27%
25 Jul 2014