Qwest Communications International Inc. (NYSE:Q), today announced that it is offering $500 million aggregate principal amount of debt securities in a private placement to be conducted pursuant to Rule 144A under the Securities Act of 1933, as amended. The net proceeds of the offering will be used for general corporate purposes, including repayment of indebtedness, and funding and refinancing investments in the company’s and its subsidiaries’ telecommunications assets.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities. Any offers of the securities will be made only by means of a private offering memorandum. The securities have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
In addition, Qwest Communications International Inc. (QCII) will redeem its 7.25 percent senior notes due Feb. 15, 2011, at a price of 100 percent. The $525 million outstanding principal amount and accrued interest payment will be payable on Feb. 16, 2010.
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