News Releases

News Releases
Qwest Communications International Inc. and Qwest Capital Funding, Inc. Announce Early Participation Results of Cash Tender Offer

DENVER, March 10, 2010 – Qwest Communications International Inc. (NYSE:Q) and its Qwest Capital Funding, Inc. (QCF) subsidiary announced today that a total of $959.5 million in aggregate principal amount of QCF's 7.9 percent Notes due 2010 and 7.25 percent Notes due 2011 (individually and collectively, the “Notes”) were tendered prior to 5 p.m. EST, on Tuesday, March 9, 2010 (the “Early Participation Payment Deadline”), and all of such Notes have been accepted for purchase. Since commencement of the tender offer on Feb. 24, 2010, through the Early Participation Payment Deadline, QCF received tenders of Notes as follows:

  • Approximately $338.0 million of the 7.9 percent Notes, representing approximately 84 percent of the outstanding principal amount of such Notes; and 
  • Approximately $621.5 million of the 7.25 percent Notes, representoutstanding principal amount of such Notes.

 

Holders who validly tendered (and did not validly withdraw) their Notes at or prior to the Early Participation Payment Deadline are expected to receive payment on March 10, 2010, the initial payment date.    

 

The offer is scheduled to expire at 5 p.m. EDT, on Wednesday, March 24, 2010, unless extended or earlier terminated (the “Expiration Time”).  Holders who validly tender their Notes after the Early Participation Payment Deadline but at or prior to the Expiration Time and whose Notes are accepted for purchase will receive payment on the final payment date, which is expected to be March 25, 2010.  Holders who validly tender their Notes after the Early Participation Payment Deadline will not receive the early participation payment of $30.00 per $1,000.00 principal amount of Notes.

 

The complete terms and conditions of the offer are set forth in an Offer to Purchase and related Letter of Transmittal that were sent to holders of Notes. Copies of the Offer to Purchase and Letter of Transmittal may be obtained from the Information Agent for the offer, D.F. King & Co., Inc., at (800) 829-6551 (US toll-free) or qwest@dfking.com (email).

 

BofA Merrill Lynch and Morgan Stanley are the Dealer Managers for the tender offer. Questions regarding the offer may be directed to BofA Merrill Lynch at (888) 292-0070 (toll-free) and (646) 855-3401 (collect) or Morgan Stanley at (800) 624-1808 (US toll-free) and (212) 761-5384 (collect).

 

This press release does not constitute an offer to sell, or the solicitation of an offer to purchase, securities.  

Forward-Looking Statement Note

 

 

The marks that comprise the Qwest logo are registered trademarks of Qwest Communications International Inc. in the U.S. and certain other countries.


Contact Information:

 

Media Contact
Diane Reberger

303-992-1662

Diane.reberger@qwest.com  

Investor Contact
Rahn Porter
303-896-0263
rahn.porter@qwest.com