BROOMFIELD, Colorado,
March 2, 2015 /PRNewswire/
-- Level 3 Communications, Inc. (NYSE: LVLT) announced today
that its wholly owned subsidiary, Level 3 Financing, Inc., has
issued a notice to redeem 100% of the aggregate principal amount of
its 9.375% Senior Notes due 2019 (the "Notes") on April 1, 2015.
Pursuant to the terms of the Notes, on April 1, 2015 (the "Redemption Date"), all of the
outstanding principal amount of the Notes will be redeemed at a
redemption price equal to 104.688% of the principal amount (the
"Redemption Price"). Since April 1,
2015, is a date on which interest is payable on the Notes,
the Redemption Price will not include the amount of interest that
is otherwise payable on the Redemption Date. Accrued interest of
$46.875 per $1,000 principal amount of the Notes will be paid
on April 1, 2015 to those noteholders
who own the Notes on March 15, 2015,
the record date to determine the noteholders who are entitled to
the payment of interest on the April 1,
2015.
To fund the redemption of the Notes, Level 3 Financing is using
the net proceeds, along with cash on hand, from the issuance of its
5.625% Senior Notes due 2023 on January 29,
2015.
Additional information regarding the redemption is available
from The Bank of New York Mellon Trust Company, National Bank.
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
Media:
|
Investors:
|
Ashley
Pritchard
|
Mark
Stoutenberg
|
+1
720-888-5950
|
+1
720-888-2518
|
ashley.pritchard@level3.com
|
mark.stoutenberg@level3.com
|
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