CenturyLink’s Level 3 plans to offer $750 million of senior notes

By Sarah Lizee

Olympia, Wash., Nov. 12 – CenturyLink, Inc. announced that subsidiary Level 3 Financing, Inc. plans to offer $750 million of senior secured fixed-rate notes in a private offering that will not be SEC registered.

Level 3 Financing's obligations under the Rule 144A and Regulation S notes will be guaranteed on a secured basis by its direct parent, Level 3 Parent, LLC, and some of its material domestic subsidiaries that guarantee the term loans under Level 3 Financing's existing senior secured credit facility.

The net proceeds from the offering are expected to be used to repay or retire a portion of the $4,611,000,000 senior secured tranche B 2024 term loans under Level 3 Financing's existing senior secured credit facility.

CenturyLink is a Monroe, La.-based communications, hosting, cloud and IT services company.

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