Level 3 Said to Seek $595.5 Million Loan to Repay 2016 Debt
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Level 3 Financing Inc., a unit of the U.S. telecommunications company with operations in 55 countries, is seeking a $595.5 million term loan due in 2020 to repay bank debt that comes due in 2016, according to a person with knowledge of the transaction.
Bank of America Corp., Citigroup Inc., Morgan Stanley, Credit Suisse Group AG, Jefferies Group Inc., and JPMorgan Chase & Co. are arranging the financing and hosted a lender meeting at 10:30 a.m. today in New York, said the person, who asked not to be identified because the information is private.