Qwest plans sale of $25-par senior notes due 2066 talked to yield 6.5%-6.625%

By Stephanie N. Rotondo

Seattle, Aug. 11 – Qwest Corp. is offering $25-par senior notes due Sept. 1, 2066 (expected ratings: Ba1/BBB-/BBB-), a market source reported on Thursday.

Price talk is 6.5% to 6.625%.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are the joint bookrunners.

Interest will be payable quarterly, beginning Dec. 1. The company can redeem the issue on or after Sept. 1, 2021 at par plus accrued interest.

The notes will list on the New York Stock Exchange.

Proceeds will be used to redeem all or a portion of the $661.25 million of outstanding 7.5% $25-par notes due 2051. Any remaining funds will be used to pay down additional debt or for other general corporate purposes.

Qwest is a Denver-based telecommunications company owned by CenturyLink Inc.

© 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.