Qwest Communications converts $126 million of notes in second quarter

Pittsburgh, Aug. 3 - Qwest Communications International Inc. exchanged $126 million in Qwest Capital Funding Inc. notes for common stock in the second quarter at an average price per share of $4.64, according to a company news release.

As previously reported, Qwest also redeemed $100 million of Qwest Corp.'s 5.65% notes due November 2004 and $41 million of its 5½% debentures due June 1, 2005.

Qwest will continue to pursue opportunities to reduce debt and improve liquidity, the company said in the release.

Qwest is a Denver-based telecommunications company.

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