Level 3 Announces $1.5 Billion Rule 144A Bond Offering

April 22, 2015

Willkie advises global communications company in latest Rule 144A offering of senior notes. 

On April 14, Willkie client Level 3 Communications, Inc. announced that Level 3 Financing, Inc., its wholly owned subsidiary, has agreed to sell $700 million aggregate principal amount of its 5.125% Senior Notes due 2023 and $800 million aggregate principal amount of 5.375% Senior Notes due 2025 in a Rule 144A offering to qualified institutional buyers.

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. In 2014, Willkie represented Level 3 in its $7.3 billion acquisition of tw telecom and in two private bond offerings with a combined value of $1.6 billion.

The current deal was handed by partners David Boston, Laura Delanoy and William Hiller and associates Susannah Ostlund, Christopher Giorgione and Kevin Sherrin.