OREANDA-NEWS. August 12, 2016. CenturyLink, Inc. (NYSE: CTL) announced today that its wholly-owned subsidiary, Qwest Corporation ("Qwest"), agreed to sell \\$850 million aggregate principal amount of 6.5% Notes due 2056. Qwest also granted the underwriters of this offering an option to acquire up to an additional \\$127.5 million principal amount of these notes to cover any over-allotments. The closing of this offering is expected to occur on August 22, 2016, subject to customary closing conditions. Qwest intends to apply to list the notes on the New York Stock Exchange. If the application is approved, Qwest expects trading in the notes to begin within 30 days after the notes are first issued. Qwest intends to use the net proceeds from this offering to redeem all of the \\$661.25 million aggregate principal amount of its outstanding 7.375% Notes due 2051, together with accrued and unpaid interest on the redeemed notes.