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

Related articles:
CenturyLink, Qwest merger consolidates more of the landline market
CenturyLink joins the Fortune 500 club
CenturyLink shines in Q4, but faces a challenging Q1
2009 Year in review: Tier 2 telco consolidation finally begins
CenturyLink rings the Tier 2 merger bell - Top Telecom M&As for 2009
CenturyLink gets aggressive with fiber - Wireless Backhaul
Reports: Qwest taking long-haul bids, not talking

Suggested Articles

Internet2 has picked Ciena's photonic and coherent optical gear to upgrade its network to a more scalable and programmable architecture.

CenturyLink has expanded its on-demand network connectivity to Google Cloud Platform.

The Broadband Forum and ONF are teaming up to drive virtualization and automation across access networks.