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CenturyTel, Inc., 6.875% Equity Units due 5/15/05
Ticker Symbol: CTL-A* CUSIP: 156700403 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/15/2005
QUANTUMONLINE.COM SECURITY DESCRIPTION: CenturyTel, Inc., 6.875% Equity Units, stated amount $25 per unit, initially consisting of Corporate Units which include a stock purchase contract and a 6.02% Senior Note, Series J with a principal amount of $25. The purchase contract requires the holder to purchase for $25 a variable number of shares of CenturyTel Inc. (NYSE: CTL) common stock no later than 5/15/2005 and pays a contract adjustment rate of 0.855%. The conversion settlement rate will be 0.6944 shares per unit if the then current market price is equal to or greater than $36.00 and 0.8741 shares per unit if the price is equal to or less than $28.60. For market prices between those values the settlement rate will be $25 divided by the market value. The senior note is due 5/15/2007 and is subject to reset and remarketing three business days prior to 2/15/2005. The Equity Units pay quarterly distributions of 6.875% ($1.71875) per annum on 2/15, 5/15, 8/15 & 11/15 to holders of record on the 1st day of the month in which the payment is made. The senior notes are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the corporate units to treasury units by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate corporate units. The senior notes are unsecured and rank equallly with the company's other unsecured senior indebtedness. See the IPO prospectus for extensive additional information on the equity units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Conversion Shares@Price |
Distribution Dates |
15% Tax Rate |
NYSE
Chart
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6.88%
$1.71875
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$25.00
n.a.
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5/15/2005
5/15/2007
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Baa2
BBB+
7/03/2004
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0.6944@$36.00+
0.8741@$28.60-
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2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (LUMN)
IPO - 5/2/2002 - 20.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $505.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 100 CenturyLink Drive, Monroe, LA 71203 |
Main Phone Number |
318-388-9000 |
Fax Number |
318-388-9562 |
Investor Contact (VP)
Kristie Waugh
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800-833-1188
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Toll Free Phone Number |
800-366-8201 |
CEO - Glen F. Post, III |
CFO - R. Stewart Ewing, Jr. |
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