Source: CenturyLink Press Release
CenturyLink, Inc. (NYSE: CTL) announced the completion of the previously announced debt tender offer commenced on March 5, 2012 by its wholly-owned subsidiary, Embarq Corporation, for Embarq's two series of notes, which expired at 12:00 midnight, New York City time, on March 30, 2012.
As of the Expiration Date, approximately $1.14 billion aggregate principal amount of the Notes had been validly tendered and not validly withdrawn, and as of today Embarq accepted for purchase all of these Notes in exchange for aggregate tender offer consideration of approximately $1.30 billion, including accrued interest.
CenturyLink expects to record in the first quarter of 2012 a one-time pre-tax charge to net income between $141 million to $144 million related to premiums paid to tendering holders of Notes and estimated transaction costs associated with the Offer.