| Schedule of Long-term Debt Including Unamortized Discounts and Premiums |
The following chart reflects the consolidated long-term debt of CenturyLink, Inc. and its subsidiaries, including unamortized discounts and premiums and unamortized debt issuance costs, but excluding intercompany debt: | | | | | | | | | | | | | Interest Rates(1) | | Maturities | | March 31, 2020 | | December 31, 2019 | | | | | | (Dollars in millions) | Senior Secured Debt: (2) | | | | | | | | CenturyLink, Inc. | | | | | | | | 2017 Revolving Credit Facility (3) | 2.889% | | 2025 | | $ | 1,375 |
| | 250 |
| Term Loan A (3)(4) | LIBOR + 2.00% | | 2025 | | 1,152 |
| | 1,536 |
| Term Loan A-1 (3)(4) | LIBOR + 2.00% | | 2025 | | 329 |
| | 333 |
| Term Loan B (3)(5) | LIBOR + 2.25% | | 2027 | | 4,987 |
| | 5,880 |
| Senior note | 4.000% | | 2027 | | 1,250 |
| | — |
| Subsidiaries: | | | | | | | | Level 3 Financing, Inc. | | | | | | | | Tranche B 2027 Term Loan (6) | LIBOR + 1.75% | | 2027 | | 3,111 |
| | 3,111 |
| Senior notes | 3.400% - 3.875% | | 2027 - 2029 | | 1,500 |
| | 1,500 |
| Embarq Corporation subsidiaries | | | | | | | | First mortgage bonds | 7.125% - 8.375% | | 2023 - 2025 | | 138 |
| | 138 |
| Senior Notes and Other Debt: | | | | | | | | CenturyLink, Inc. | | | | | | | | Senior notes | 5.125% - 7.650% | | 2020 - 2042 | | 8,618 |
| | 8,696 |
| Subsidiaries: | | | | | | | | Level 3 Financing, Inc. | | | | | | | | Senior notes | 4.625% - 5.625% | | 2022 - 2027 | | 5,515 |
| | 5,515 |
| Qwest Corporation | | | | | | | | Senior notes | 6.125% - 7.750% | | 2021 - 2057 | | 4,856 |
| | 5,956 |
| Term Loan (7) | LIBOR + 2.00% | | 2025 | | 100 |
| | 100 |
| Qwest Capital Funding, Inc. | | | | | | | | Senior notes | 6.875% - 7.750% | | 2021 - 2031 | | 352 |
| | 352 |
| Embarq Corporation and subsidiary | | | | | | | | Senior note | 7.995% | | 2036 | | 1,437 |
| | 1,450 |
| Finance lease and other obligations | Various | | Various | | 205 |
| | 222 |
| Unamortized discounts, net | | | | | (45 | ) | | (52 | ) | Unamortized debt issuance costs | | | | | (270 | ) | | (293 | ) | Total long-term debt | | | | | 34,610 |
| | 34,694 |
| Less current maturities (8) | | | | | (1,129 | ) | | (2,300 | ) | Long-term debt, excluding current maturities | | | | | $ | 33,481 |
| | 32,394 |
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| | (2) | See Note 7—Long-Term Debt and Credit Facilities in our Annual Report on Form 10-K for the year ended December 31, 2019 for a description of certain parent or subsidiary guarantees and liens securing this debt. |
| | (3) | CenturyLink's credit agreement was amended as noted below, extending the maturity date of its (a) Term Loan A, Term Loan A-1 and Revolving Credit Facilities from 2022 to 2025 and (b) Term Loan B from 2025 to 2027. |
| | (4) | Term Loans A and A-1 had interest rates of 2.989% and 4.549% as of March 31, 2020 and December 31, 2019, respectively. |
| | (5) | Term Loan B had interest rates of 3.239% and 4.549% as of March 31, 2020 and December 31, 2019, respectively. |
| | (6) | The Tranche B 2027 Term Loan had an interest rate of 2.739% as of March 31, 2020 and 3.549% as of December 31, 2019, respectively. |
| | (7) | Qwest Corporation Term Loan had an interest rate of 2.990% as of March 31, 2020 and 3.800% as of December 31, 2019, respectively. |
(8) See "Subsequent Event" for further details on the April 1, 2020 redemption of $973 million of senior unsecured notes.
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| Schedule of Maturities of Long-term Debt |
Set forth below is the aggregate principal amount of our long-term debt (excluding unamortized discounts, net and unamortized debt issuance costs) maturing during the following years as of March 31, 2020: | | | | | | (Dollars in millions) | 2020 (remaining nine months) (1) | $ | 1,094 |
| 2021 | 2,419 |
| 2022 | 2,377 |
| 2023 | 2,160 |
| 2024 | 2,037 |
| 2024 and thereafter | 24,838 |
| Total long-term debt | $ | 34,925 |
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