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CenturyLink Inc Prices $750 Million Of Debt Securities


Thursday, 14 Nov 2013 06:59pm EST 

CenturyLink Inc announced that it has agreed to sell $750 million of newly-issued unsecured ten-year senior notes. The senior notes due 2023 were priced at par with a coupon rate of 6.75%. The closing of this offering is expected to occur on November 27, 2013. CenturyLink expects to use the net proceeds from this offering, together with available cash or borrowings under its revolving credit facility, to provide the total amount of funds required to: CenturyLink expects to use the net proceeds from this offering, together with available cash or borrowings under its revolving credit facility, to provide the total amount of funds required to: repurchase all $800 million aggregate principal amount of the 7.125% Notes due 2018 (the "2018 Notes") of CenturyLink's wholly owned subsidiary, Qwest Communications International Inc. ("Qwest Communications"), pursuant to either Qwest Communications' tender offer announced earlier today or Qwest Communications' proposed subsequent redemption of any of its 2018 Notes not purchased pursuant to the tender offer; and pay accrued interest payable on the 2018 Notes purchased under these transactions and all related fees and expenses. Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are the joint book-running managers for this offering. 

Company Quote

41.48
-0.01 -0.02%
31 Oct 2014