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CenturyLink closes private offering of senior notes

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CenturyLink closes private offering of senior notes

CenturyLink Inc. entered into an indenture and supplemental indenture with Regions Bank in connection with its sale of $1.25 billion of newly issued unsecured 5.125% senior notes due 2026.

The company will use the net proceeds to redeem all of Qwest Corp.'s $850 million of 6.875% senior notes due 2033, as well as all of Qwest's $250 million of 7.125% senior notes due 2043. CenturyLink will also use the net proceeds for general corporate purposes.

In connection with the completion of the offering, Qwest issued notices to redeem all of the 2033 notes at a redemption price equal to 100.390% of par plus accrued and unpaid interest of approximately $22.92 per $1,000 principal amount of the 2033 notes, and all of the 2043 notes at a redemption price equal to 101.644% of par plus accrued and unpaid interest of approximately $11.88 per $1,000 principal amount of the 2043 notes.

Qwest is a wholly owned subsidiary of CenturyLink.