Vendor Image

Qwest Communications: Bond-Swap Offer (A...

Hild, Matthias, Mi...

Case

Qwest Communications: Bond-Swap Offer (A)

Hild, Matthias; Mitchell, Jordan

QA-0647 | Published January 27, 2005 | 11 pages Case

Collection: Darden School of Business

Product Details

By the end of 2002, Qwest Communications Inc., a major U.S. communications company, was reaching a precarious level of illiquidity in the face of huge debts. To reduce that debt, Qwest offered its institutional investors a chance to exchange some unsecured bonds for new senior-subordinated secured notes. But bondholders had no reliable data on Qwest’s financials, and there is a two-day deadline for accepting Qwest’s offer. See also the B case (UVA-QA-0648).

0