November 17, 2008
Level 3 Communications, Inc. announces that it has commenced separate tender offers to purchase for cash three series of its outstanding convertible notes.
On November 17, Willkie client Level 3 Communications, Inc. announced that it has commenced separate tender offers to purchase for cash three series of its outstanding convertible notes. Level 3 also announced that it has reached agreements to sell up to $400 million aggregate principal amount of its 15% convertible senior notes due 2013 to help fund the three tender offers. Level 3 is a leading international provider of fiber-based communications services, offering a portfolio of metro and long haul services over an end-to-end fiber network, including transport, data, internet, content delivery and voice. Willkie has advised Level 3 in a host of transactions, including offerings of senior notes, senior discount notes, convertible notes and common stock, as well as in its acquisitions of Broadwing Corporation, TelCove, Inc. and WilTel Communications, among others.
The convertible notes offering was handled by partners David Boston, Leslie Mazza and Christopher Peters, and associates Thomas Mark, Scott Eisenberg, and Carolina Ventura. The tender offers were handled by David Boston, Thomas Mark, associate Johanna Ferraro, and Carolina Ventura.
