IP-based communications solutions provider Level 3 Communications has priced its US$500m private placement of 2023 5.625% senior unsecured notes at par.
Proceeds from the notes will be used “to redeem, satisfy and discharge, defease or otherwise…
IP-based communications solutions provider Level 3 Communications has priced its US$500m private placement of 2023 5.625% senior unsecured notes at par.
Proceeds from the notes will be used “to redeem, satisfy and discharge, defease or otherwise repay or retire” all US$500m 9.375% senior notes due 2019, the company said in a statement.
The offering is expected to be completed on 29 January, subject to the satisfaction or waiver of customary closing conditions.
Level 3, which recently merged with TW Telecom to create a B2B operator with an enterprise value of US$25bn, owns networks and data centres in more than 60 countries as well as global subsea networks. It provides local, national and global communications services to enterprise, government and carrier customers.
The company most recently visited the debt market in November when it raised US$600m in a bond offering. Proceeds went towards redeeming US$605.2m worth of 11.875% senior notes due 2019.
