American telco Level 3 Communications is selling US$300m of senior notes set to mature in 2018 via a private offering.
The proceeds will be used to redeem Level 3’s US$300m outstanding floating rate senior notes due 2015.
It marks the US telco’s…
American telco Level 3 Communications is selling US$300m of senior notes set to mature in 2018 via a private offering.
The proceeds will be used to redeem Level 3’s US$300m outstanding floating rate senior notes due 2015.
It marks the US telco’s fifth refinancing transaction in four months. At the end of October it priced US$640m of 6.125% senior notes due 2021, also in a private offering. The transaction is expected to close on Thursday.
In September Colorado-based Level 3 refinanced a US$1.2bn senior secured loan, pushing the maturity out to 2020.
In August it completed the refinancing of two senior secured term loans totalling US$1.4bn, taking out senior secured loans due in 2019 and 2020 using its existing credit agreement.
Level 3 offers network services across 55 countries. It owns fibre networks and undersea cables serving enterprise and government clients. It also offers wholesale services to consumer-focused operators.
