Level 3 Announces Proposed $400M Private Offering of Senior Notes

Level 3 Communications, Inc. LVLT today announced that its subsidiary, Level 3 Financing, Inc., plans to offer $400 million aggregate principal amount of senior notes that will mature in 2020 and will bear interest at a fixed rate in a proposed private offering to "qualified institutional buyers," as defined in Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States under Regulation S under the Securities Act of 1933. Level 3 Financing, Inc.'s obligations under the notes will be fully and unconditionally guaranteed on an unsecured basis by Level 3 Communications, Inc.
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