Qwest to redeem some 8 7/8% notes due 2012 with new notes proceeds

By Toni Weeks

San Diego, Sept. 13 - Qwest Corp. intends to use proceeds from a planned notes offering to redeem a portion of its $1.5 billion of 8 7/8% notes due March 15, 2012 prior to maturity and to pay all related fees and expenses, according to a 424B5 filing with the Securities and Exchange Commission.

Qwest said it will refinance the notes that are remaining after the partial redemption.

The company may initially invest the net proceeds in short-term investment-grade securities.

The communications company is based in Monroe, La.

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