BROOMFIELD, Colo., March 16, 2015 /PRNewswire/ -- Level 3
Communications, Inc. (NYSE: LVLT) today announced that as of
March 13, 2015, the holders of its 7%
Convertible Senior Notes due 2015 and the holders of its 7%
Convertible Senior Notes due 2015, Series B (together, the "7%
Notes") converted in aggregate $475,000,000 principal amount of the 7% Notes
into approximately 17.6 million shares of Level 3 common
stock. Holders received 37.037 shares of Level 3 common stock
(which is equivalent to a conversion price of approximately
$27.00 per share) for each
$1,000 principal amount of 7% Notes
converted. No accrued and unpaid interest was payable upon
conversion of the 7% Notes.
Holders converted 100% of the outstanding principal amount of
the 7% Notes.
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. 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,
Vyvx, Venuenet+, 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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SOURCE Level 3 Communications, Inc.