Qwest exchange continues as scheduled after court decision

New York, Dec. 18 - Qwest Communications International Inc. said its debt exchange offer is scheduled to close on Friday at 11.59 p.m. ET, as originally announced, after a court decision denying an attempt by some bondholders to delay the transaction.

The Judge for the U.S. District Court for the Southern District of New York denied the bondholders' move to have the exchange delayed.

The Denver communications company said it was "pleased" with the decision.

The exchange covers up to $12.9 billion of Qwest debt; holders are being asked to swap their bonds for a smaller amount of new securities with a higher coupon and seniority in the capital structure.

The expiry date is subject to extension at Qwest's option.

© 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.