Nov. 14, 2013
(NYSE: CTL) announced today that it agreed to sell
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:
- 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. The senior notes are being offered pursuant to CenturyLink's existing shelf registration statement. CenturyLink intends to file with the Securities and Exchange Commission a definitive prospectus supplement and accompanying prospectus describing the terms of this offering. When available, copies of the definitive prospectus supplement and accompanying prospectus for this offering may be obtained by calling Wells Fargo Securities, LLC at (800) 326-5897 (US toll-free) and (704) 410-4818 (collect), Morgan Stanley & Co. LLC at (800) 624-1808 (US toll-free) and (212) 761-1057 (collect) and RBC Capital Markets, LLC at (877) 280-1299 (US toll-free) and (212) 618-2205 (collect), and by writing BofA Merrill Lynch at 222 Broadway,
New York, NY
10038, Attention: Prospectus Department, or emailing BofA Merrill Lynch at
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.