News Column

LEVEL 3 COMMUNICATIONS INC FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits

July 30, 2014



Item 8.01. Other Events

On July 29, 2014, Level 3 Communications, Inc. ("Level 3") issued a press release announcing that its indirect, wholly owned subsidiary, Level 3 Escrow II, Inc. ("Level 3 Escrow"), plans to offer $600 million aggregate principal amount of senior unsecured notes that will mature in 2022 and will bear interest at a fixed rate in a proposed private offering to "qualified institutional buyers", as defined in Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States under Regulation S under the Securities Act of 1933, as amended.

That press release is filed as Exhibit 99.1 to this Current Report and is incorporated herein by reference as if set forth in full.

On July 29, 2014, Level 3 issued a subsequent press release announcing that Level 3 Escrow has agreed to sell $1.0 billion aggregate principal amount of its 5.375% Senior Notes due 2022 in a private offering to qualified institutional buyers and to non-U.S. persons outside the United States under Regulation S.

The gross proceeds from the offering of the notes will be deposited into a segregated escrow account until the date on which certain escrow conditions, including, but not limited to, the substantially concurrent consummation of the acquisition by Level 3 of tw telecom inc. and the assumption of the notes by Level 3 Financing, Inc., a wholly owned subsidiary of Level 3 and the parent company of Level 3 Escrow, are satisfied.

That press release is filed as Exhibit 99.2 to this Current Report and is incorporated herein by reference as if set forth in full.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits 99.1 Press Release, dated July 29, 2014, relating to the launching of the private offering of $600 million of Senior Notes due 2022 by Level 3 Escrow II, Inc. 99.2 Press Release, dated July 29, 2014, relating to the pricing of



the private offering of $1.0 billion of 5.375% Senior Notes due 2022 by Level 3 Escrow II, Inc.

2



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters