Exhibit 1.2
CENTURYTEL, INC.
PRICE DETERMINATION
AGREEMENT
September 14, 2009
Banc of America
Securities LLC
J.P. Morgan
Securities Inc.
Wells Fargo
Securities, LLC
Mitsubishi UFJ
Securities (USA), Inc.
Morgan Stanley
& Co. Incorporated
SunTrust
Robinson Humphrey, Inc.
Deutsche Bank
Securities Inc.
Morgan Keegan
& Company, Inc.
U.S. Bancorp
Investments, Inc.
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Banc of America
Securities LLC
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J.P. Morgan
Securities Inc.
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Wells Fargo
Securities, LLC
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301 South
College Street, 6 th
Floor
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Charlotte,
North Carolina 28288
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Ladies and
Gentlemen:
Reference is made to the Underwriting Agreement,
dated September 14, 2009 (the “ Underwriting Agreement
”), between CenturyTel, Inc., a Louisiana corporation (the
“ Company ”), and the several Underwriters named
in Schedule I thereto (the “ Underwriters
”). The Underwriting Agreement provides for the
sale to the Underwriters, and the purchase by the Underwriters,
severally and not jointly, from the Company, subject to the terms
and conditions set forth therein, of $400,000,000 aggregate
principal amount of the Company’s 7.60% Senior Notes, Series
P, due 2039 (the “ Series P Notes ”) and
$250,000,000 aggregate principal amount of the Company’s
6.15% Senior Notes, Series Q, due 2019 (the “ Series Q
Notes ” and, together with the Series P Notes, the
“ Securities ”) to be issued pursuant to an
Indenture dated as of March 31, 1994 between the Company and
Regions Bank (successor-in-interest to First American Bank &
Trust of Louisiana and Regions Bank of Louisiana), as trustee, as
supplemented to the date hereof, and as will be supplemented by the
Fifth Supplemental Indenture dated as of September 21, 2009
related
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