Qwest to redeem $500 million 6.5% notes due 2017 on May 4

New York, April 20 – Qwest Corp. will repay its $500 million of 6.5% notes due June 1, 2017 on May 4, according to a notice from the company.

The redemption price will be par plus a make-whole premium calculated using a discount rate of Treasuries plus 50 basis points. Holders will also receive accrued interest.

Qwest’s plans for the redemption were announced on Tuesday when the company announced an upsized $575 million offering of 6.75% $25-par notes due 2057.

Proceeds will also be used to repay the company’s $288.5 million principal amount of 2051 notes.

Qwest is a Denver-based telecommunications carrier and unit of CenturyLink Inc.

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