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Level 3 to redeem all $900 million 8 5/8% notes due 2020 via new issue
By Susanna Moon
Chicago, Oct. 29 – Level 3 Communications, Inc. announced plans to Level 3 Financing, Inc.’s $900 million principal amount of 8 5/8% senior notes due 2020.
Funding for the redemption will come from proceeds of Level 3 Financing’s offering of $900 million senior notes due 2024, according to a company notice.
Initially the company had planned to take out $500 million of the notes with a bond deal of the same size but after the offering was upsized Level 3 said it would redeem the entire existing issue.
Level 3 is a Broomfield, Colo.-based provider of communications services.
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