MONROE, La., Sept. 11, 2019 /PRNewswire/ -- Global technology
leader CenturyLink, Inc. (NYSE: CTL) announced that Level
3 Financing, Inc., its indirect, wholly owned subsidiary ("Level 3
Financing"), has agreed to sell $1
billion aggregate principal amount of its 4.625% Senior
Notes due 2027 (the "Notes") in a proposed private offering that
will not be registered under the Securities Act of 1933.
The Notes were priced to investors at 100 percent of their
principal amount and will mature on September 15, 2027. Level 3 Financing's
obligations under the Notes will be fully and unconditionally
guaranteed on an unsecured basis by Level 3 Parent, LLC, the direct
parent of Level 3 Financing. The net proceeds from this
offering will be used, together with cash on hand, for general
corporate purposes, including, without limitation, to redeem all of
Level 3 Financing's $240 million
outstanding aggregate principal amount of 6.125% Senior Notes due
2021, all of Level 3 Parent, LLC's $600
million outstanding aggregate principal amount of 5.75%
Senior Notes due 2022 and other long-term debt of Level 3
The offering is expected to be completed on September 25, 2019, subject to the satisfaction
or waiver of customary closing conditions.
The Notes will not be registered under the Securities Act of
1933 or any state securities laws in the
United States and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
Accordingly, the Notes are being offered and sold only to qualified
institutional buyers in accordance with Rule 144A under the
Securities Act and outside the United
States in accordance with Regulation S under the Securities
Act. The Notes will not have registration rights.
CenturyLink (NYSE: CTL) is a
technology leader delivering hybrid networking, cloud connectivity,
and security solutions to customers around the world. Through its
extensive global fiber network, CenturyLink provides secure and
reliable services to meet the growing digital demands of businesses
and consumers. CenturyLink strives to be the trusted connection to
the networked world and is focused on delivering technology that
enhances the customer experience. Learn more
Forward Looking Statement:
Except for historical
and factual information, the matters set forth in this release and
other of our oral or written statements identified by words such as
"continues," "estimates," "expects," "anticipates," "believes,"
"plans," "intends," and similar expressions are forward-looking
statements. These forward-looking statements are not guarantees of
future results and are based on current expectations only, are
inherently speculative, and are subject to a number of assumptions,
risks and uncertainties, many of which are beyond our
control. Actual events and results may differ materially from
those anticipated, estimated, projected or implied by us in those
statements. You are cautioned not to unduly rely upon our
forward-looking statements, which speak only as of the date made.
We may change our intentions, strategies or plans (including our
plans expressed herein) without notice at any time and for any
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SOURCE CenturyLink, Inc.