Qwest Amends Credit Facility, Gets New Loan
Debt-burdened Qwest Communications International Inc. reached a deal with creditors to amend the local telephone company’s $3.4-billion credit facility in a move to strengthen its finances.
Denver-based Qwest, with $26.5 billion in debt, also has completed a new $750-million term loan at its QwestDex Inc. yellow pages unit, which last month Qwest announced will be sold in two parts for $7.05 billion to buyout firms Carlyle Group Inc. and Welsh, Carson, Anderson & Stowe.
Shares of Qwest rose 34 cents to $3.60 on the NYSE before the announcement was made. They climbed to $3.77 in after-hours trading.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
