Level 3 subsidiary proposes private senior note offering

Level 3 Communications, Inc. (NYSE: LVLT) said that Level 3 Financing, Inc., its wholly owned subsidiary, plans to offer USD500 million aggregate principal amount of senior notes that will mature in 2026 and will bear interest at a fixed rate in a proposed private offering to qualified institutional buyers, the company said.

The net proceeds from the offering of the Notes, together with cash on hand, will be used to redeem USD500 million outstanding aggregate principal amount of Level 3 Financing, Inc.´s 7USD senior notes due 2020. Currently, there is USD775 million aggregate principal amount of the 7USD senior notes due 2020 outstanding.

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.