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(Denver-AP) -- Qwest Communications says it has reached new
terms on three-point-four billion dollars in loans.
The deal with its 29 lenders is aimed at keeping the troubled
telecom giant from defaulting on payments and filing for
It includes a new 750 million dollar term loan at the
company's Qwest-Dex business.
Qwest vice chair and chief financial officer Oren Shaffer says
the pending sale of Qwest-Dex and the renegotiation of loans will
put liquidity concerns behind the company.
The company is struggling to escape debt totaling 26-point-6
Shares of Qwest closed up 34 cents, or ten percent, at
3-dollars-and-60 cents on the New York Stock Exchange.