Qwest secures new $1.04B revolving credit facility

AP News
Posted: Dec 21, 2009 12:03 PM

Qwest Communications International Inc. said Monday that it secured a new $1.04 billion revolving credit facility.

The new agreement will expire Sept. 30, 2013. It replaces an existing revolving credit agreement that was to expire Oct. 21.

The phone company said that it has not yet drawn on the agreement, and if it does it will use proceeds for general corporate purposes such as working capital, capital expenditures and debt refinancing.

Wachovia Bank, National Association is the administrative agent for the new agreement.

Qwest shares rose 13 cents, or 3.1 percent, to $4.37.