BROOMFIELD, Colo., March 2, 2015 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) announced today that its wholly owned subsidiary, Level 3 Financing, Inc., has issued a notice to redeem 100% of the aggregate principal amount of its 9.375% Senior Notes due 2019 (the "Notes") on April 1, 2015.
Pursuant to the terms of the Notes, on April 1, 2015 (the "Redemption Date"), all of the outstanding principal amount of the Notes will be redeemed at a redemption price equal to 104.688% of the principal amount (the "Redemption Price"). Since April 1, 2015, is a date on which interest is payable on the Notes, the Redemption Price will not include the amount of interest that is otherwise payable on the Redemption Date. Accrued interest of $46.875 per $1,000 principal amount of the Notes will be paid on April 1, 2015 to those noteholders who own the Notes on March 15, 2015, the record date to determine the noteholders who are entitled to the payment of interest on the April 1, 2015.
To fund the redemption of the Notes, Level 3 Financing is using the net proceeds, along with cash on hand, from the issuance of its 5.625% Senior Notes due 2023 on January 29, 2015.
Additional information regarding the redemption is available from The Bank of New York Mellon Trust Company, National Bank.
About Level 3 Communications
Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. Level 3's comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 serves customers in more than 500 markets in over 60 countries over a global services platform anchored by owned fiber networks on three continents and connected by extensive undersea facilities. For more information, please visit www.level3.com or get to know us on Twitter, Facebook and LinkedIn.
© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications, Level (3) and the Level 3 Logo are either registered service marks or service marks of Level 3 Communications, LLC and/or one of its Affiliates in the United States and elsewhere. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners. Level 3 services are provided by subsidiaries of Level 3 Communications, Inc.
Some statements made in this press release are forward-looking in nature and are based on management's current expectations or beliefs. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. Important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to, the company's ability to: successfully integrate the tw telecom acquisition; manage risks associated with continued uncertainty in the global economy; increase revenue from its services to realize its targets for financial and operating performance; maintain and increase traffic on its network; develop and maintain effective business support systems; manage system and network failures or disruptions; avert the breach of its network and computer system security measures; develop new services that meet customer demands and generate acceptable margins; manage the future expansion or adaptation of its network to remain competitive; defend intellectual property and proprietary rights; manage continued or accelerated decreases in market pricing for communications services; obtain capacity for its network from other providers and interconnect its network with other networks on favorable terms; attract and retain qualified management and other personnel; successfully integrate future acquisitions; effectively manage political, legal, regulatory, foreign currency and other risks it is exposed to due to its substantial international operations; mitigate its exposure to contingent liabilities; and meet all of the terms and conditions of its debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
Logo - http://photos.prnewswire.com/prnh/20140908/144115
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/level-3-announces-redemption-of-9375-senior-notes-due-2019-300043097.html
SOURCE Level 3 Communications, Inc.