Qwest to redeem $1.1 billion in notes

Qwest (NYSE: Q) is going to redeem $1.1 billion in outstanding convertible senior notes, a requirement it needs to meet to complete its impending merger with CenturyLink (NYSE: CTL).

The notes will be redeemed at 100 percent of principal plus accrued and unpaid interest on Nov. 18.

Current noteholders can give their notes up for conversion before the end of the Nov. 17 or have them redeemed the next day. In addition, Qwest will pay noteholders cash in lieu of stock.

For more:
- Denver Business Journal has this article

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CenturyLink shines in Q4, but faces a challenging Q1
2009 Year in review: Tier 2 telco consolidation finally begins
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