Qwest accepts tenders for 11.6% of 3.5% convertibles; redemption set for November with merger

By Jennifer Chiou

New York, Aug. 27 - Qwest Communications International Inc. said it accepted tenders for about $147 million, or 11.6%, of its $1.265 billion of 3.5% convertible senior notes due 2025 in the offer that wrapped at 5 p.m. ET on Aug. 26.

Earlier this month, the company announced its plans to redeem the notes on Nov. 20 at par. The planned call is in connection with Qwest's plan of merger with CenturyLink, Inc. (formerly CenturyTel, Inc.).

The offer launched on July 13 and was previously extended from Aug. 12.

The company said it paid $1,170 for each $1,000 of notes, plus accrued interest to the settlement date on Aug. 27.

Upon a notice of redemption, holders will be able to convert their notes until the close on Nov. 19.

Global Bondholder Services Corp. was the information agent (866 540-1500 or call collect 212 430-3774). Goldman Sachs & Co. was the dealer manager (800 828-3182 or call collect 212 902-5128).

Qwest is a Denver-based provider of data, internet, video and voice services.

© 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.