Qwest to borrow $100 million under loan to cut intercompany borrowings

By Tali Rackner

Norfolk, Va., Sept. 22 – Qwest Corp. plans to plan to borrow up to $100 million under a term loan from unaffiliated lenders, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds from the loan, which are not expected to be available until after Oct. 1, will be used to increase the company’s available cash or reduce its intercompany borrowings previously used to retire its 7˝% notes.

The integrated communications company is based in Monroe, La.

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