Level 3 Completes USD900m offering

Level 3 Communications, Inc. (NYSE: LVLT) said that Level 3 Financing, Inc., its wholly owned subsidiary, has completed its offering of USD900 million aggregate principal amount of its 5.375 percent senior notes due 2024 in a private offering to qualified institutional buyers.

The notes were priced to investors at 100 percent of their principal amount and will mature on January 15, 2024. Level 3 Financing´s obligations under the notes will be fully and unconditionally guaranteed on an unsecured basis by Level 3 Communications, Inc. The net proceeds from the offering, together with cash on hand, will be used to redeem all of Level 3 Financing´s outstanding 8.625 percent senior notes due 2020 (the “8.625 percent senior notes”), including accrued interest, applicable premiums and expenses.

Level 3 Communications provides local, national and global communications services to enterprise, government and carrier customers. Level 3´s comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions.