CenturyLink, Inc. (CTL), Monday announced its decision to sell $1.0 billion of newly-issued unsecured seven-year senior notes due in 2020.
The senior notes offering is expected to close on March 21, 2013, said CenturyLink.
In addition, the company intents to use proceeds from the offering to repay indebtedness outstanding under a $2 billion revolving credit facility and to repay its senior notes maturing on April 1, 2013.
For the offering, J.P. Morgan Securities LLC and Barclays Capital Inc. are serving as the joint physical book-running managers.
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