Qwest to redeem $484 million 7.5% notes with 7% notes sale proceeds

By Ashley Montgomery

Kansas City, Kan., June 14 - Qwest Corp. intends to use the proceeds from its $400 million sale of 7% notes due 2052 to help fund the redemption of its $484 million 7.5% notes due 2023, according to a news release.

The notes will be redeemed at 100.34 plus accrued interest to the redemption date.

The $400 million notes offering is expected to close June 25.

The company said it would also use available cash or borrowings to fund the redemption.

Qwest is a Monroe, La.-based telecommunications provider and a subsidiary of CenturyLink, Inc.

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