debt
confidence high
sentiment neutral
materiality 0.70
Qwest exchanges $1.38B in old notes for new notes with similar coupons; indentures amended
QWEST CORP
- Qwest accepted $831.9M of 6.5% 2056 Notes and $551.9M of 6.75% 2057 Notes in exchange for new notes due 2051/2052.
- Holders received $0.0625 per $25 principal as consent fee; total cash payments ~$3.46M.
- Requisite consents obtained to amend Old Qwest Indentures; supplemental indenture effective June 11.
- Qwest will de-register Old Qwest Notes and cease SEC reporting after settlement, relying on Rule 12h-5.
- Settlement date for new notes is June 11, 2026; Morgan Stanley acted as lead dealer manager.