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IN BRIEF/ Technology

Qwest Amends Credit Facility, Gets New Loan

September 05, 2002|Reuters

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.

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