MONROE, La., Jan. 24, 2020 /PRNewswire/ -- CenturyLink, Inc.
(NYSE: CTL) announced that it completed its previously-announced
sale of $1.25 billion aggregate
principal amount of newly-issued 4.000% Senior Secured Notes due
2027 (the "2027 Notes").
CenturyLink used the net proceeds from the offering to
repay a portion of the indebtedness under its existing 2017 senior
secured credit facilities.
The 2027 Notes are unconditionally guaranteed by each of
CenturyLink's domestic subsidiaries that guarantees CenturyLink's
2017 senior secured credit facilities, subject to the receipt of
certain regulatory approvals and various exceptions and
limitations. While the 2027 Notes will not be secured by any of the
assets of CenturyLink, the guarantees will be secured by a first
priority security interest in substantially all of the assets of
certain guarantors, which assets also secure obligations under
CenturyLink's 2017 senior secured credit facilities on a pari passu
basis.
The 2027 Notes were privately placed without being registered
under the Securities Act of 1933, as amended.
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," "will," 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. 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.