Qwest tenders for 5 7/8% notes

New York, Jan. 29 - Qwest Communications International Inc. said its Qwest Capital Funding, Inc. has begun a cash tender offer for all its $963.505 million principal amount of 5 7/8% notes due Aug. 3, 2004.

Holders who tender by the early participation deadline of 5.00 p.m. ET on Feb. 11 will receive $1,020 per $1,000 principal amount, including a $20 early participation payment.

Payment for early tenders will be made on Feb. 12. Note can only be withdrawn before the early participation deadline.

Holders who tender after the early participation deadline but before the expiration date of midnight ET on Feb. 26 will receive par for their notes.

Qwest said it will make the scheduled Feb. 3 interest payment to holders as of the close of business on Jan. 19. Holders who tender will also receive remaining accrued interest.

The Denver, Colo. telecommunications company said the offer is subject to certain conditions, including the completion of an offering of $1.75 billion of new senior notes.

There is no minimum tender condition.

Banc of America Securities LLC (contact High Yield Special Products at 888 292-0070 or collect at 704 388-4813) and UBS Investment Bank (contact Liability Management Group at 888 722-9555, ext. 4210 or collect at 203 719-4210) are dealer managers. The information agent is Global Bondholder Services Corp. (866 470-3500 or collect at 212 430-3774).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.