CenturyLink Inc. said today that it has agreed to put up for sale USD750 million of newly-issued unsecured ten-year senior notes. In a statement, CenturyLink said that the senior bonds were priced at par with a coupon rate of 6.75%. The bonds issued are set to mature in 2023. Financial services providers Wells Fargo Securities LLC, Bank of America Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. LLC and RBC Capital Markets LLC will be acting as joint bookrunners for the listing.  The offering is expected to close on November 27. 

CenturyLink is the third largest telecommunications company in the US. It is a S&P 500 company and ranks among the largest American corporations in the Fortune 500 list, the statement said. 

The net proceeds from the offering will be used to buy back all USD800 million aggregate principal amount of the 7.125% notes due 2018 of Qwest Communications International Inc.

Qwest Communications is a wholly-owned subsidiary of CenturyLink.