Telecomunicazioni
Level 3 Announces Notices of Redemption of tw telecom Holdings' 5.375% Senior Notes Due 2022 and 6.375% Senior Notes Due 2023
BROOMFIELD, Colorado , Oct. 31, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) announced that, in connection with the closing of its acquisition of tw telecom inc., tw telecom holdings, inc., a wholly owned subsidiary of tw telecom inc., called for redemption all of tw telecom holdings' outstanding 5.375% Senior Notes due 2022 (CUSIP Nos. 87311X AD0 and 87311X AF5) and 6.375% Senior Notes due 2023 (CUSIP No. 87311X AH1).
tw telecom inc. issued its common stock to Level 3 in an "Equity Offering" (as defined in the indentures governing each series of tw telecom holdings' senior notes). tw telecom holdings is using the proceeds of that Equity Offering to redeem 35 percent of the outstanding principal amount of each issue of its 5.375% Senior Notes due 2022 and of its 6.375% Senior Notes due 2023. The redemption price for the $325.5 million aggregate principal amount of 5.375% Notes due 2022 being redeemed with the proceeds of the Equity Offering is 105.375% of the principal amount thereof, plus accrued and unpaid interest to, but excluding the redemption date. The redemption price for the $122.5 million aggregate principal amount of 6.375% Notes due 2023 being redeemed with the proceeds of the Equity Offering is 106.375% of the principal amount thereof, plus accrued and unpaid interest to, but excluding the redemption date. The redemption date for those redemptions is November 30, 2014 .
Following those redemptions, the remaining 65 percent of the outstanding principal amount of each issue of tw telecom holdings' 5.375% Notes due 2022 ( $604.5 million aggregate principal amount) and tw telecom holdings' 6.375% Senior Notes due 2023 ( $227.5 million aggregate principal amount) will be redeemed on December 2, 2014 , at "make-whole" prices calculated in accordance with the indentures using the rate of the comparable U.S. Treasury yield plus 50 basis points, plus accrued and unpaid interest to, but excluding, the redemption date.
In connection with such redemptions, tw telecom holdings is discharging the indentures governing each series of notes.
Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. Level 3's comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 serves customers in more than 500 markets in over 60 countries across a global services platform anchored by owned fiber networks on three continents and connected by extensive undersea facilities. For more information, please visit www.level3.com or get to know us on Twitter, Facebook and LinkedIn.
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