Qwest Corp. to price $500 million eight-year notes on Thursday via Deutsche Bank, Credit Suisse, Merrill Lynch

By Paul A. Harris

St. Louis, Aug. 2 - Qwest Corp., the fourth-largest regional Bell operating company, will host an investor conference call at 11 a.m. ET Thursday for its $500 million offering of eight-year senior notes (Ba3/BB/BB+), according to a market source.

The books are expected to close early to mid-Thursday afternoon, with pricing to follow.

Deutsche Bank Securities, Credit Suisse and Merrill Lynch & Co. are joint bookrunners for the Rule 144A with registration rights offering. JP Morgan, Lehman Brothers and Wachovia Securities are co-managers.

The notes will be callable with a make-whole call at Treasuries plus 50 basis points.

Proceeds will be used to refinance a $500 million term loan at Qwest Corp. and for general corporate purposes.

The Denver-based company, which is 1.6-times leveraged, according to the source, owns 14.3 million access lines.

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