Level 3 secures $2B loan for TW Telecom acquisition
BROOMFIELD — Level 3 Communications Inc. (NYSE: LVLT) announced on Monday that its wholly owned subsidiary, Level 3 Financing Inc., has received commitments from lenders for $2 billion that will be used to finance the cash portion of its $5.7 billion acquisition of TW Telecom Inc.
Level 3 will amend and restate its existing senior secured credit facility to include the new loan that will mature Jan. 31, 2022.
The money also will be used to refinance certain existing indebtedness of TW Telecom Inc., including fees and premiums, in connection with the closing of the acquisition that was announced in June.
SPONSORED CONTENT
The many benefits of simple, coordinated healthcare
Kaiser Permanente combines health care and coverage in one connected system to maximize employee health and minimize employer costs.
Merrill Lynch, Pierce, Fenner & Smith Inc., Citigroup Global Markets Inc., Morgan Stanley Senior Funding Inc., Barclays Bank PLC, Goldman Sachs Bank USA, Jefferies Finance LLC and JP Morgan Securities LLC are acting as joint lead arrangers and joint book-running managers for the loan.
BROOMFIELD — Level 3 Communications Inc. (NYSE: LVLT) announced on Monday that its wholly owned subsidiary, Level 3 Financing Inc., has received commitments from lenders for $2 billion that will be used to finance the cash portion of its $5.7 billion acquisition of TW Telecom Inc.
Level 3 will amend and restate its existing senior secured credit facility to include the new loan that will mature Jan. 31, 2022.
The money also will be used to refinance certain existing indebtedness of TW Telecom Inc., including fees and premiums, in connection with the closing of the acquisition that was announced in June.
Merrill Lynch,…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!
