MONROE, La., Dec. 9, 2019 /PRNewswire/ -- CenturyLink,
Inc. (NYSE: CTL) (the "Company" or "CenturyLink") announced that it
plans to offer $750 million aggregate
principal amount of fixed-rate seven-year unsecured senior notes
(the "Notes") in a proposed private offering that will not be
registered under the Securities Act of 1933, as amended (the
"Securities Act").
CenturyLink plans to use the net proceeds from the offering,
together with cash on hand, to redeem all $850 million aggregate principal amount of
outstanding 6.875% Senior Notes due 2033 (the "2033 Notes") issued
by its wholly owned subsidiary, Qwest Corporation. This press
release does not constitute a notice of redemption with respect to
the 2033 Notes.
The Notes will not be registered under the Securities Act or any
state securities laws in the United
States and may not be offered or sold in the United States absent registration or an
exemption from the applicable registration requirements.
Accordingly, the Notes are being offered and sold only to persons
reasonably believed to be qualified institutional buyers in
accordance with Rule 144A promulgated under the Securities Act and
to non-U.S. persons outside the United
States in accordance with Regulation S promulgated under the
Securities Act. The Notes will not have registration rights. This
announcement will not constitute an offer to sell, or a
solicitation of an offer to buy any securities, nor will there be
any sale of the Notes, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About CenturyLink
CenturyLink (NYSE: CTL) is a technology leader delivering hybrid
networking, cloud connectivity, and security solutions to customers
around the world. Through its extensive global fiber network,
CenturyLink provides secure and reliable services to meet the
growing digital demands of businesses and consumers. CenturyLink
strives to be the trusted connection to the networked world and is
focused on delivering technology that enhances the customer
experience.
Forward Looking Statements
Except for historical and factual information, the matters
set forth in this release and other of our oral or written
statements identified by words such as "estimates," "expects,"
"anticipates," "believes," "plans," "intends," and similar
expressions are forward-looking statements. These forward-looking
statements are not guarantees of future results and are based on
current expectations only, are inherently speculative, and are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond our control. Actual events and results
may differ materially from those anticipated, estimated, projected
or implied by us in those statements if one or more of these risks
or uncertainties materialize, or if underlying assumptions prove
incorrect. Factors that could affect actual results include but are
not limited to: the possibility that potential debt investors will
not be receptive to the offering on the terms described above or at
all; corporate developments that could preclude, impair or delay
the above-described transactions due to restrictions under the
federal securities laws; changes in CenturyLink's credit ratings;
changes in CenturyLink's cash requirements, financial position,
financing plans or investment plans; changes in general market,
economic, tax, regulatory or industry conditions that impact the
ability or willingness of CenturyLink to consummate the
above-described transactions on the terms described above or at
all; and other risks referenced from time to time in CenturyLink's
filings with the Securities and Exchange Commission ("SEC"). For
all the reasons set forth above and in our SEC filings, you are
cautioned not to unduly rely upon our forward-looking statements,
which speak only as of the date made. We undertake no obligation to
publicly update or revise any forward-looking statements for any
reason, whether as a result of new information, future events or
developments, changed circumstances, or otherwise. Furthermore, any
information about our intentions contained in any of our
forward-looking statements reflects our intentions as of the date
of such forward-looking statement, and is based upon, among other
things, existing regulatory, technological, industry, competitive,
economic and market conditions, and our assumptions as of such
date. We may change our intentions, strategies or plans (including
our plans expressed herein) without notice at any time and for any
reason.
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SOURCE CenturyLink, Inc.