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CenturyLink unit Qwest settles tenders for 76.77% of 7 1/8% notes
By Susanna Moon
Chicago, Dec. 13 - CenturyLink, Inc. subsidiary Qwest Communications International Inc. said it received no additional tenders for its $800 million of 7 1/8% notes due 2018 since its most recent update.
The company settled tenders for $614,183,000, or 76.77%, of the notes on Nov. 27. All of the notes had been tendered by 5 p.m. ET on Nov. 26, the early tender date.
The total purchase price was $1,040 per $1,000 principal amount of notes tendered by the early tender date. The total payment included a $30.00 early tender premium per $1,000 of notes.
The company also paid accrued interest up to but excluding the settlement date.
The tender offer ended at midnight ET on Dec. 12. The offer began on Nov. 14.
After settlement, there is $185,817,000 of the notes remaining.
Qwest called all of the notes that remain outstanding after the tender offer at $1,035.63 per $1,000 principal amount of notes plus accrued interest up to but excluding the redemption date of Dec. 27, as noted on Nov. 27.
Those who tendered after the early deadline would have received the total payment less the early premium.
CenturyLink upsized its offering of non-callable 10-year senior notes to $750 million from $500 million and priced it at par to yield 6¾% on Nov. 14.
The dealer managers were Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760), BofA Merrill Lynch (888 292-0070 or 980 388-3646), Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) and RBC Capital Markets, LLC (877 381-2099 or 212 618-7822). The information agent was D.F. King & Co., Inc. (800 659-5550 or call collect 212 269-5550).
CenturyLink is a telecommunications company based in Monroe, La.
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