Qwest Corporation, a subsidiary of US telco Centurylink, has agreed to sell US$500m of forty-year 7.5% notes.
Joint bookrunners for the offering are BoA Merrill Lynch, Morgan Stanley, UBS and Wells Fargo.
According to a statement, Qwest expects to use…
Qwest Corporation, a subsidiary of US telco Centurylink, has agreed to sell US$500m of forty-year 7.5% notes.
Joint bookrunners for the offering are BoA Merrill Lynch, Morgan Stanley, UBS and Wells Fargo.
According to a statement, Qwest expects to use the net proceeds of the offering to redeem part of the US$1.5bn of its outstanding 8.875% notes due in 2012.
It also stated that Qwest had granted the underwriter the option to acquire an additional US$75m of these notes in order to cover overallotments.
The merger between CenturyLink and Qwest completed in April in a deal that was originally valued at US$22.4bn.
