Qwest Corporation Agrees To Sell Debt Securities

               Qwest Corporation Agrees To Sell Debt Securities

PR Newswire

MONROE, La., May 14, 2013

MONROE, La., May 14, 2013 /PRNewswire/ -- CenturyLink, Inc. (NYSE:CTL)
announced today that its wholly-owned subsidiary, Qwest Corporation, agreed to
sell $750 million aggregate principal amount of 6.125% Notes due 2053. Qwest
also granted the underwriters of this offering an option to acquire up to an
additional $25 million principal amount of these notes to cover
over-allotments. The closing of this offering is expected to occur on May 23,

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Qwest intends to apply to list the notes on the New York Stock Exchange. If
the application is approved, Qwest expects trading in the notes to begin
within 30 days after the initial issuance of the notes.

Qwest intends to use the net proceeds from this offering, together with
available cash, to retire at maturity all $750 million aggregate principal
amount of its outstanding Floating Rate Notes due June 15, 2013, including
accrued and unpaid interest thereon.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC,
UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-running
managers for this offering. Qwest is offering the notes pursuant to its
existing shelf registration statement, which became automatically effective
upon filing with the Securities and Exchange Commission. Qwest will file with
the Securities and Exchange Commission a prospectus supplement and
accompanying prospectus describing the terms of this offering. When available,
copies of the prospectus supplement and accompanying prospectus for this
offering may be obtained from: Merrill Lynch, Pierce, Fenner & Smith
Incorporated toll free at 1-800-294-1322, Morgan Stanley & Co. LLC toll free
at 1-800-584-6837, UBS Securities LLC toll free at 1-877-827-6444 ext.
561-3884 or Wells Fargo Securities, LLC toll free at 1-800-326-5897. 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.

About CenturyLink

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 and Qwest. 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 the possibility that corporate developments that could preclude,
impair or delay the above-described offering due to restrictions under the
federal securities laws; changes in Qwest's credit ratings; changes in Qwest's
cash requirements or financial position; changes in general market, economic,
tax, regulatory or industry conditions that impact the ability or willingness
of Qwest to consummate the above-described offering on the terms described
above or at all; Qwest's continued access to credit markets on favorable
terms; and other risks referenced from time to time in CenturyLink's or
Qwest'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 or Qwest to identify
all such factors, nor can CenturyLink or Qwest 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. Neither CenturyLink nor Qwest undertakes any obligation to update any
of its forward-looking statements for any reason.

SOURCE CenturyLink, Inc.

Website: http://www.centurytel.com
Contact: Kristina Waugh, 318.340.5627, kristina.r.waugh@centurylink.com
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