Qwest Corporation, the subsidiary of US telecoms operator Centurylink, has agreed to sell US$500m of 7% notes due 2052.
Centurylink said that the underwriters have the option to buy up to an additional US$25m of these notes in order to cover…
Qwest Corporation, the subsidiary of US telecoms operator Centurylink, has agreed to sell US$500m of 7% notes due 2052.
Centurylink said that the underwriters have the option to buy up to an additional US$25m of these notes in order to cover over-allotments.
The joint bookrunning managers are BofA Merrill Lynch, Citigroup, UBS and Wells Fargo.
The offering is expected to close on 2 April.
Qwest expects to use the net proceeds of the offering, as well as available cash and borrowings under its revolver, to fund a tender offer for existing debt.
The company is planning to buy outstanding notes due in 2015 and 2016 for an aggregate price of up to US$500m.
