US telco CenturyLink is offering US$750m worth of newly issued unsecured ten-year senior notes, due 2023 and priced at par with a coupon rate of 6.75%.
Wells Fargo, Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley and RBC Capital Markets are the…
US telco CenturyLink is offering US$750m worth of newly issued unsecured ten-year senior notes, due 2023 and priced at par with a coupon rate of 6.75%.
Wells Fargo, Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley and RBC Capital Markets are the joint book-running managers for the debt offering.
The closing of the offering is set for 27 November 2013.
CenturyLink expects to use the net proceeds from transaction, combined with additional financing, to repay US$800m of 7.125% notes due 2018 issued by its subsidiary Qwest Communications.
Fitch Ratings assigned a BB+ rating to the offering and a ‘stable’ outlook based on a projected improvement in revenues.
