Monitor participation rates in the exchange offers, as low take-up could signal holder dissatisfaction. The delisting of the old notes will reduce liquidity and transparency for those holding positions.
Price Chart
Executive Summary
Qwest Corporation commenced exchange offers for its 6.5% Notes due 2056 and 6.75% Notes due 2057, offering new notes with identical terms and a small cash incentive for early participation. The company also intends to delist the old notes from the NYSE.
Key Facts
- Qwest Corporation commenced exchange offers for $977.5 million of 6.5% Notes due 2056 and $660 million of 6.75% Notes due 2057.
- Holders who tender before May 8, 2026, receive $25 principal amount of new notes plus a $0.0625 cash payment per $25 principal amount of old notes.
- The new notes will have the same terms as the old notes and will be guaranteed by Lumen Technologies.
- Qwest intends to delist the old notes from the NYSE around May 11, 2026.
Financial Impact
The exchange offer involves $1.6375 billion in aggregate principal amount of notes. Early participants receive a $0.0625 cash payment per $25 principal amount of notes tendered.
Risk Factors
- The exchange offers may not be fully subscribed, leaving Qwest with two series of similar notes outstanding.
- The delisting of the old notes could reduce market transparency and liquidity for remaining holders.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-162876 |
| Document: d98355dex991.htm | 0001193125-26-162876 |
| Document: 0001193125-26-162876-index-headers.html | 0001193125-26-162876 |
| Document: 0001193125-26-162876-index.html | 0001193125-26-162876 |
| Document: 0001193125-26-162876.txt | 0001193125-26-162876 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 20, 2026 22w ago | 8-K | $19.55 | awaiting T+20 | — | — |
May 12, 2026 23w ago | 425 | $19.55 | awaiting T+20 | — | — |
May 12, 2026 23w ago | 8-K | $19.55 | awaiting T+20 | — | — |
May 5, 2026 24w ago | 425 | $18.88 | awaiting T+20 | — | — |
May 5, 2026 24w ago | 8-K | $18.88 | awaiting T+20 | — | — |
Apr 21, 2026 26w ago | EFFECT | $17.93 $19.55 | ▲ +9.04% | ▲ +4.12% | — |
Apr 20, 2026 27w ago | 8-K | $19.27 $19.55 | ▲ +1.45% | ▼ −2.75% | — |
US Market Status
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