DENVER, Aug. 12, 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 $840 million aggregate principal amount of its
3.625% Senior Notes due 2029 (the "2029 Notes").
Level 3 Financing intends to use the net proceeds from the
offering, together with cash on hand, for general corporate
purposes, including to redeem $840
million aggregate principal amount of its outstanding Senior
Notes on the terms described below.
The 2029 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 2029
Notes were privately placed without being registered under the
Securities Act of 1933, as amended.
In connection with completing the offering, Level 3 Financing
today issued notices to redeem (i) all $140 million aggregate principal amount of its
outstanding 5.625% Senior Notes due 2023 and (ii) all $700 million aggregate principal amount of its
outstanding 5.125% Senior Notes due 2023. Pursuant to these
notices, on Sept. 11, 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 these notes is available from Bank of
New York Mellon. This press release does not constitute a notice of
redemption with respect to any of Level 3 Financing's outstanding
Senior 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.