BROOMFIELD, Colo., Oct. 29, 2015 /PRNewswire/ -- Level 3
Communications, Inc. (NYSE: LVLT) today announced that Level 3
Financing, Inc., its wholly owned subsidiary ("Level 3 Financing"),
has agreed to sell $900 million
aggregate principal amount of its 5.375% Senior Notes due 2024 (the
"Notes") in a private offering to "qualified institutional buyers",
as defined in Rule 144A under the Securities Act of 1933, as
amended, and non-U.S. persons outside the
United States under Regulation S under the Securities Act of
1933, as amended.
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 of the Notes, together with cash on hand, will be used
to redeem, satisfy and discharge, defease or otherwise repay or
retire all of Level 3 Financing's approximately $900 million outstanding aggregate principal
amount of 8.625% Senior Notes due 2020.
The offering is expected to be completed on November 13, 2015, subject to the satisfaction or
waiver of customary closing conditions.
The Notes will not be registered under the Securities Act of
1933 or any state securities laws and, unless so registered, may
not be offered or sold except pursuant to an applicable exemption
from the registration requirements of the Securities Act of 1933
and applicable state securities laws.
About Level 3 Communications
Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500
company that 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. Level 3 serves
customers in more than 500 markets in over 60 countries across a
global services platform anchored by owned fiber networks on three
continents and connected by extensive undersea facilities.
© Level 3 Communications, LLC. All Rights Reserved. Level 3,
Level 3 Communications, Level (3) and the Level 3 Logo are either
registered service marks or service marks of Level 3
Communications, LLC and/or one of its Affiliates in the United States and/or other countries. Any
other service names, product names, company names or logos included
herein are the trademarks or service marks of their respective
owners. Level 3 services are provided by subsidiaries of Level 3
Communications, Inc.
Forward-Looking Statement
Some statements made in this press release are
forward-looking in nature and are based on management's current
expectations or beliefs. These forward-looking statements are not a
guarantee of performance and are subject to a number of
uncertainties and other factors, many of which are outside Level
3's control, which could cause actual events to differ materially
from those expressed or implied by the statements. Important
factors that could prevent Level 3 from achieving its stated goals
include, but are not limited to, the company's ability to:
successfully integrate the tw telecom acquisition; manage risks
associated with continued uncertainty in the global economy;
increase revenue from its services to realize its targets for
financial and operating performance; maintain and increase traffic
on its network; develop and maintain effective business support
systems; manage system and network failures or disruptions; avert
the breach of its network and computer system security measures;
develop new services that meet customer demands and generate
acceptable margins; manage the future expansion or adaptation of
its network to remain competitive; defend intellectual property and
proprietary rights; manage continued or accelerated decreases in
market pricing for communications services; obtain capacity for its
network from other providers and interconnect its network with
other networks on favorable terms; attract and retain qualified
management and other personnel; successfully integrate future
acquisitions; effectively manage political, legal, regulatory,
foreign currency and other risks it is exposed to due to its
substantial international operations; mitigate its exposure to
contingent liabilities; and meet all of the terms and conditions of
its debt obligations. Additional information concerning these and
other important factors can be found within Level 3's filings with
the Securities and Exchange Commission. Statements in this press
release should be evaluated in light of these important factors.
Level 3 is under no obligation to, and expressly disclaims any such
obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contact
Information
|
|
|
|
Media:
|
Investors:
|
D. Nikki
Wheeler
|
Mark
Stoutenberg
|
+ 1
303-842-5150
|
+1
720-888-2518
|
nikki.wheeler@level3.com
|
mark.stoutenberg@level3.com
|
Logo -
http://photos.prnewswire.com/prnh/20140908/144115
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/level-3-announces-pricing-of-private-offering-of-senior-notes-300169091.html
SOURCE Level 3 Communications, Inc.