DENVER, June 15, 2020 /PRNewswire/ -- CenturyLink
Inc. (NYSE: CTL) announced that Level 3 Financing Inc., its
indirect, wholly-owned subsidiary ("Level 3 Financing"), completed
its previously announced private offering of $1.2 billion aggregate principal amount of its
unsecured 4.250% Senior Notes due 2028 (the "2028 Notes").
The net proceeds from the offering will be used, together with
cash on hand, for general corporate purposes, including, without
limitation, to redeem all $840
million aggregate principal amount of Level 3 Financing's
outstanding 5.375% Senior Notes due 2022 (the "2022 Notes") and
$360 million aggregate principal
amount of Level 3 Financing's outstanding 5.625% Senior Notes due
2023 (the "2023 Notes").
The 2028 Notes are unsubordinated, unsecured obligations of
Level 3 Financing, and are guaranteed on an unsecured basis by
Level 3 Financing's direct parent, Level 3 Parent, LLC. The 2028
Notes were privately placed without being registered under the
Securities Act of 1933, as amended.
In connection with completing the offering, Level 3 Financing
issued notices to redeem (i) all $840
million aggregate principal amount of its outstanding 2022
Notes and (ii) $360 million aggregate
principal amount of the $500 million
aggregate principal amount of its outstanding 2023 Notes. Pursuant
to these notices, on July 15, 2020,
all such notes will be redeemed at par plus accrued and unpaid
interest to, but excluding, the redemption date. Additional
information regarding the redemption of the 2022 Notes and 2023
Notes is available from Bank of New York Mellon. This press release
does not constitute a notice of redemption with respect to any of
the 2022 Notes or the 2023 Notes.
About CenturyLink
CenturyLink (NYSE: CTL) is a technology leader delivering hybrid
networking, cloud connectivity, and security solutions to customers
around the world. Through its extensive global fiber network,
CenturyLink provides secure and reliable services to meet the
growing digital demands of businesses and consumers. CenturyLink
strives to be the trusted connection to the networked world and is
focused on delivering technology that enhances the customer
experience.
Learn more at http://news.centurylink.com/.
Forward Looking Statements
Except for historical and factual information, the matters
set forth in this release and other of our oral or written
statements identified by words such as "estimates," "expects,"
"anticipates," "believes," "plans," "intends," "will," and similar
expressions are forward-looking statements. These forward-looking
statements are not guarantees of future results and are based on
current expectations only, are inherently speculative, and are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond our control. Actual events and results may
differ materially from those anticipated, estimated, projected or
implied by us in those statements if one or more of these risks or
uncertainties materialize, or if underlying assumptions prove
incorrect. Factors that could affect actual results include but are
not limited to changes in the cash requirements, financial
position, financing plans or investment plans of Level 3 Financing
or its affiliates; changes in general market, economic, tax,
regulatory or industry conditions; and other risks referenced from
time to time in the filings of CenturyLink or Level 3 Parent, LLC
with the Securities and Exchange Commission ("SEC"). For all the
reasons set forth above and in our SEC filings, you are cautioned
not to unduly rely upon our forward-looking statements, which speak
only as of the date made. We undertake no obligation to publicly
update or revise any forward-looking statements for any reason,
whether as a result of new information, future events or
developments, changed circumstances, or otherwise. Furthermore, any
information about our intentions contained in any of our
forward-looking statements reflects our intentions as of the date
of such forward-looking statement, and is based upon, among other
things, existing regulatory, technological, industry, competitive,
economic and market conditions, and our assumptions as of such
date. We may change our intentions, strategies or plans (including
our plans expressed herein) without notice at any time and for any
reason.
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SOURCE CenturyLink, Inc.