Monday, October 06, 2014 10:17:46 AM
BROOMFIELD, Colorado, Oct. 6, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) today announced that Level 3 Financing, Inc., its wholly owned subsidiary ("Level 3 Financing"), has begun the marketing of a new senior secured tranche under its existing senior secured credit facility (the "Tranche B 2022 Term Loan").
The net proceeds of the Tranche B 2022 Term Loan to Level 3 Financing will be used to finance the cash portion of the merger consideration payable to tw telecom inc. stockholders pursuant to the pending acquisition of tw telecom inc. and to refinance certain existing indebtedness of tw telecom inc., including fees and premiums, in connection with the closing of that acquisition.
Level 3 Financing expects the closing of the new Tranche B 2022 Term Loan will take place with the closing of the pending acquisition of tw telecom inc., subject to the execution of definitive documents and customary closing conditions.
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 across 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.
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