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Qwest’s $575 million 6.75% $25-par notes due 2057 admitted to NYSE
By Stephanie N. Rotondo
Seattle, April 28 – Qwest Corp.’s $575 million of 6.75% $25-par notes due 2057 began trading on the New York Stock Exchange on Friday, according to a market source.
The ticker is “CTDD.”
The deal came April 18, in line with price talk but upsized from $250 million.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, RBC Capital Markets and Wells Fargo Securities LLC were the joint bookrunners.
The notes become redeemable on or after June 15, 2022 at par plus accrued interest.
Proceeds will be used with available cash or intercompany borrowings to redeem all $500 million of the 6.5% notes coming due June 1 and all $288.5 million of the 7.5% $25-par notes due 2051 (NYSE: CTW).
The redemption of the maturing notes will be done at a premium.
Qwest is a Denver-based telecommunications carrier and unit of CenturyLink Inc.
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