TMCnet News
CenturyLink Announces Proposed Private Offering of Level 3 Financing Senior NotesMONROE, La., Sept. 11, 2019 /PRNewswire/ -- Global technology leader CenturyLink, Inc. (NYSE: CTL) announced that Level 3 Financing, Inc., its indirect, wholly owned subsidiary, plans to offer $500 million aggregate principal amount of senior notes that will mature in 2027 and will bear interest at a fixed rate (the "Notes") in a proposed private offering that will not be registered under the Securities Act of 1933. The net proceeds from this offering are expected be used, together with cash on hand, for general corporate purposes, including, without limitation, to redeem any of the Level 3 Financing, Inc. 6.125% Senior Notes due 2021 and a portion of the Level 3 Parent, LLC 5.75% Senior Notes due 2022. As of Sept. 10, 2019, $240 million aggregate principal amount of the 6.125% Senior Notes due 2021 and $600 million aggregate principal amount of the 5.75% Senior Notes due 2022 remained outstanding. The Notes will not be registered under the Securities Act of 1933 or any state scurities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Accordingly, the Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Notes will not have registration rights. About CenturyLink Forward Looking Statement: View original content to download multimedia:http://www.prnewswire.com/news-releases/centurylink-announces-proposed-private-offering-of-level-3-financing-senior-notes-300915947.html SOURCE CenturyLink, Inc. |