August 6, 2014

Level 3 Communications, Inc. prices latest Rule 144A offering of senior notes.

On July 29, Willkie client Level 3 Communications, Inc. announced that Level 3 Escrow II, Inc., its indirect, wholly owned subsidiary, has agreed to sell $1 billion aggregate principal amount of its 5.375% Senior Notes due 2022 in a Rule 144A offering to qualified institutional buyers.  In June Level 3, represented by Willkie, announced its $7.3 billion acquisition of tw telecom.  The net proceeds from the notes offering will be used to finance the cash portion of the merger and to refinance certain existing indebtedness of tw telecom inc.

Based in Bloomfield, Colorado, Level 3 is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers.

The deal was handed by partners David Boston, William Hiller, Laura Delanoy and Cristopher Greer, and associates Laura Acker, Hania Masud and Susannah Ostlund.

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