Level 3 Announces Proposed Private Offering of Senior Notes

Level 3 Communications, Inc. LVLT today announced that Level 3 Escrow, Inc., its newly formed, wholly owned subsidiary, plans to offer $500 million aggregate principal amount of senior notes that will mature in 2019 and will bear interest at a fixed rate in a proposed private offering to "qualified institutional buyers," as defined in Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States under Regulation S under the Securities Act of 1933.