Qwest plans to repurchase debt
Qwest moved this week to purchase about $1.2 billion of its debt. Through its Capital Funding unit Qwest's tender offer is for $402.923 million in 7.9 percent notes maturing this year as well as $800.98 million in 7.25 percent notes maturing in 2011.
The ILEC said it would pay $996.25 per $1,000 in principal on the 2010 notes, and then $1,016.25 per $1,000 on the 2011 notes. Qwest will also offer a $30-per-$1,000 bonus for notes that are tendered by 3 PM MST on March 9th.
Last month, the ILEC sold $800 million in new debt securities that will help it pay off some of the $4 billion in company debt that will be due in 2010 and 2011. In 2009, Qwest paid down $562 million of Qwest Capital Finance debt that was going to mature last August.
- New Mexico Business Weekly has this article
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