Level 3 to use notes offering proceeds for redemption of 9¼% notes

By Toni Weeks

San Diego, March 1 - Level 3 Communications, Inc. said in a press release that its subsidiary, Level 3 Financing, Inc., will use the net proceeds from its planned offering of $300 million of senior notes due 2019 along with cash on hand to redeem a portion of the company's outstanding 9¼% senior notes due 2014.

The Broomfield, Colo.-based company is a provider of fiber-based communications services.

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