Pillsbury has advised the underwriters (J.P. Morgan Securities LLC, Barclays Capital Inc., SunTrust Robinson Humphrey, Inc., Mizuho Securities USA Inc., Mitsubishi UFJ Securities (USA), Inc., Regions Securities LLC, U.S. Bancorp Investments, Inc. and Fifth Third Securities, Inc.) on Louisiana-based integrated communications company CenturyLink, Inc.’s issue of $1,000,000,000 in 7.5% Senior Notes, Series Y, due 2024.

The offering priced on March 22 and closed yesterday. Net proceeds, together with available cash, are expected to be used to redeem all $1.184 billion aggregate principal amount of Embarq Corporation’s (a wholly-owned subsidiary of CenturyLink) outstanding 7.082% Notes due June 1, 2016.

The Pillsbury team advising the underwriters on this matter was led by partners Jeffrey J. Delaney (Corporate & Securities) and Harsha Reddy (Tax), and associate Leeor Baskin (Corporate & Securities) and Brian Waterman (Corporate & Securities).