CenturyLink prices $1.0 billion of Debt Securities
MONROE, La., March 18, 2013
MONROE, La., March 18, 2013 /PRNewswire/ --CenturyLink, Inc. (NYSE: CTL)
announced today that it agreed to sell $1.0 billion of newly-issued unsecured
seven-year senior notes. The senior notes due 2020 were priced at par with a
coupon of 5.625%. The closing of this offering is expected to occur on March
CenturyLink expects to use the net proceeds from this offering to repay a
portion of the indebtedness outstanding under its $2 billion revolving credit
facility, to repay its senior notes maturing on April 1, 2013 and for other
general corporate purposes.
J.P. Morgan Securities LLC and Barclays Capital Inc. are the joint physical
book-running managers for this offering. The senior notes are being offered
pursuant to CenturyLink's existing shelf registration statement. CenturyLink
intends to file with the Securities and Exchange Commission a definitive
prospectus supplement and accompanying prospectus describing the terms of this
offering. When available, copies of the definitive prospectus supplement and
accompanying prospectus for this offering may be obtained by calling J.P.
Morgan Securities LLC collect at 212-834-4533 or Barclays Capital Inc. toll
free at 888-603-5847.
This press release is neither an offer to sell nor a solicitation of an offer
to buy any securities, and this offering will not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
CenturyLink is the third largest telecommunications company in the United
States and is recognized as a leader in the network services market by
technology industry analyst firms. The company is a global leader in cloud
infrastructure and hosted IT solutions for enterprise customers. CenturyLink
provides data, voice and managed services in local, national and select
international markets through its high-quality advanced fiber optic network
and multiple data centers for businesses and consumers. The company also
offers advanced entertainment services under the CenturyLink® Prism™ TV and
DIRECTV brands. Headquartered in Monroe, La., CenturyLink is an S&P 500
company and is included among the Fortune 500 list of America's largest
corporations. For more information, visit www.centurylink.com.
Forward Looking Statements
This press release includes certain forward-looking statements, estimates and
projections that are based on current expectations only, and are subject to a
number of risks, uncertainties and assumptions, many of which are beyond the
control of CenturyLink. Actual events and results may differ materially from
those anticipated, estimated or projected 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:
CenturyLink's failure to satisfy the conditions to the underwriters'
obligation to consummate the offering; corporate developments that could
preclude, impair or delay the above-described offering due to restrictions
under the federal securities laws; changes in CenturyLink's credit ratings;
changes in CenturyLink's cash requirements or financial position; changes in
general market, economic, tax, regulatory or industry conditions; and other
risks referenced from time to time in CenturyLink's filings with the
Securities and Exchange Commission. There can be no assurances that the
above-described offering will be consummated on the terms described above or
at all. You should be aware that new factors may emerge from time to time and
it is not possible for CenturyLink to identify all such factors, nor can
CenturyLink predict the impact of each such factor on its plans, or the extent
to which any one or more factors may cause actual results to differ from those
reflected in any forward-looking statements. You are further cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date of this press release. CenturyLink does not undertake any
obligation to update any of its forward-looking statements for any reason.
SOURCE CenturyLink, Inc.
Contact: Tony Davis, +1.318.388.9525, firstname.lastname@example.org
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