May 14, 2013
(NYSE: CTL) announced today that its wholly-owned subsidiary, Qwest Corporation, agreed to sell
aggregate principal amount of 6.125% Notes due 2053. Qwest also granted the underwriters of this offering an option to acquire up to an additional
principal amount of these notes to cover over-allotments. The closing of this offering is expected to occur on
May 23, 2013
Qwest intends to apply to list the notes on the New York Stock Exchange. If the application is approved, Qwest expects trading in the notes to begin within 30 days after the initial issuance of the notes.
Qwest intends to use the net proceeds from this offering, together with available cash, to retire at maturity all
aggregate principal amount of its outstanding Floating Rate Notes due
June 15, 2013
, including accrued and unpaid interest thereon.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers for this offering. Qwest is offering the notes pursuant to its existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. Qwest will file with the Securities and Exchange Commission a prospectus supplement and accompanying prospectus describing the terms of this offering. When available, copies of the prospectus supplement and accompanying prospectus for this offering may be obtained from: Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, Morgan Stanley & Co. LLC toll free at 1-800-584-6837, UBS Securities LLC toll free at 1-877-827-6444 ext. 561-3884 or Wells Fargo Securities, LLC toll free at 1-800-326-5897. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, and this offering will not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.