Level 3 Financing to redeem $840 million in senior notes from two series

By Taylor Fox

New York, Aug. 7 – Level 3 Financing Inc. plans to redeem all $140 million aggregate principal amount of its outstanding 5 5/8% senior notes due 2023 and all $700 million aggregate principal amount of its outstanding 5 1/8% senior notes due 2023, according to a press release.

Level 3 intends to use proceeds from its offering of $840 million aggregate principal amount of fixed-rate unsecured senior notes together with cash on hand to make the redemption.

Any remaining proceeds will be used for general corporate purposes.

Level 3 is a Broomfield, Colo.-based telecom and an indirect subsidiary of CenturyLink.

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