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CenturyLink to sell $1.25B of senior notes

CenturyLink Inc. agreed to sell $1.25 billion of its newly issued 4.000% senior secured notes due Feb. 15, 2027.

The notes will be unconditionally guaranteed by each of the company's domestic subsidiaries that guarantees CenturyLink's 2017 senior secured credit facilities, according to a Jan. 17 company release.

CenturyLink plans to use the net proceeds to repay a portion of the debt under its existing 2017 senior secured credit facilities.

The offering is expected to be completed Jan. 24, subject to the satisfaction or waiver of customary closing conditions.