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CenturyLink’s Level 3 plans to redeem 2021 notes, some 2022 notes
By Marisa Wong
Los Angeles, Sept. 11 – CenturyLink, Inc. said it plans to redeem all of Level 3 Financing, Inc.’s outstanding 6 1/8% senior notes due 2021 and a portion of Level 3 Parent, LLC’s 5¾% senior notes due 2022 using proceeds from an offering of new notes.
As of Sept. 10, $240 million of the 2021 notes and $600 million of the 2022 notes remain outstanding.
Indirect wholly owned subsidiary Level 3 Financing plans to offer $500 million of senior notes due 2027, according to a Wednesday news release.
The redemption will also be funded with cash on hand.
CenturyLink is a Monroe, La.-based communications, hosting, cloud and IT services company.
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