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.
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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, 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.
Sponsored Content
Growth Strategy Summit with Jessica Dewell
How often do you validate or revise your business’s growth strategy? If your first thought was “Not enough” Join us for the for the Growth Strategy Summit with Jessica Dewell, owner of Red Direction.
Jess advises, facilitates, and keynotes about business excellence and what it means to lead today. Adept at recognizing underutilized knowledge, she combines such information with team members’ passion to create strong connections.
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, 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.
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