US-based telecoms provider Level 3 Communications is planning to issue 8-year US$400m senior notes as it continues its refinancing programme.
The proceeds of the offering will be used to redeem a portion of Level 3’s outstanding 8.75% senior notes…
US-based telecoms provider Level 3 Communications is planning to issue 8-year US$400m senior notes as it continues its refinancing programme.
The proceeds of the offering will be used to redeem a portion of Level 3’s outstanding 8.75% senior notes due 2017.
Level 3 did not disclose the rate at which the new offering will carry interest, but said that it would be a fixed rate.
The move follows a US$300m bond issue last month and a US$1.42bn credit facility, reported yesterday.
Level 3 has a debt tower of approximately US$2.5bn of debt that is due in 2014 and has around US$8.55bn in total debt.
Citigroup and Bank of America Merrill Lynch are the leads, along with Morgan Stanley, Credit Suisse, Deutsche Bank and JP Morgan