BROOMFIELD, Colorado,
Jan. 14, 2015 /PRNewswire/
-- Level 3 Communications, Inc. (NYSE: LVLT) announced that
its subsidiary, Level 3 Financing, Inc., plans to offer
$500 million aggregate principal
amount of senior unsecured notes that will mature in 2023 and will
bear interest at a fixed rate in a proposed 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. Level 3 Financing,
Inc.'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 all $500 million aggregate principal amount of Level
3 Financing, Inc.'s 9.375% Senior Notes due 2019.
The senior 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 over a
global services platform anchored by owned fiber networks on three
continents and connected by extensive undersea facilities. For more
information, please visit www.level3.com or get to know us on
Twitter, Facebook and LinkedIn.
© 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 elsewhere. 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
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Media:
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Investors:
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Ashley
Pritchard
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Mark
Stoutenberg
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+1
720-888-5950
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+1
720-888-2518
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ashley.pritchard@level3.com
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mark.stoutenberg@level3.com
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