CenturyLink Completes Private Offering of Senior Secured Notes

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.

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SOURCE CenturyLink, Inc.