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Level 3 Communications Inc (LVLT.K)

LVLT.K on New York Consolidated

60.06USD
23 Jun 2017
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Latest Key Developments (Source: Significant Developments)

CenturyLink announces additional executive leadership appointments
Thursday, 22 Jun 2017 08:30am EDT 

June 22 (Reuters) - CenturyLink Inc :CenturyLink announces additional executive leadership appointments.CenturyLink Inc says continues to expect closure of acquisition will occur by end of Q3 2017.CenturyLink Inc - Edward Morche, who will rejoin level 3 on July 5, will be president - strategic enterprise, Federal Government and State Government.CenturyLink Inc says Laurinda Pang will be president - GAM and International.CenturyLink Inc says Vernon Irvin will be President - SMB.  Full Article

Centurylink says Centurylink Escrow LLC entered into a credit agreement
Tuesday, 20 Jun 2017 05:16pm EDT 

June 20 (Reuters) - Centurylink Inc :Centurylink says on June 19, Centurylink Escrow LLC entered into a credit agreement in connection with pending acquisition of level 3 communications.New term loan facilities consist of $1.575 billion term loan a tranche, a $0.370 billion term loan A-1 tranche and a $6.0 billion term loan B tranche - SEC filing​.Intends to use proceeds to finance cash portion of consideration payable in connection with acquisition​.New revolving credit facility and borrowings under term loan A and A-1 facilities will mature five years after closing of acquisition​.Borrowings under term loan B facility will mature on January 31, 2025​.Agreement providing for $9.945 billion in senior secured credit facilities, consisting of a $2.0 billion revolving credit facility.Agreement providing for $9.945 billion in senior secured credit facilities, also consisting of $7.945 billion of new term loan facilities.New revolving credit facility is designed to replace company's current revolving credit facility.A portion of new revolving credit facility in an amount not to exceed $100 million will be available for swingline loans.A portion of new revolving credit facility in an amount not to exceed $400 million will be available for issuance of letters of credit.  Full Article

CenturyLink says Glen Post III will remain CEO until Jan. 1, 2019
Thursday, 1 Jun 2017 08:00am EDT 

June 1 (Reuters) - CenturyLink Inc ::CenturyLink announces CEO succession plan.CenturyLink Inc says Glen F. Post III will remain ceo until Jan. 1, 2019.CenturyLink Inc says level 3 president and CEO, will become centurylink president and chief operating officer upon closing of merger.CenturyLink Inc says CenturyLink and level 3 continue to expect to close transaction by Sept. 30, 2017..CenturyLink Inc says two companies continue to expect to close transaction by Sept. 30, 2017.CenturyLink - Jeff Storey will succeed post as CEO of CenturyLink effective Jan. 1, 2019 and that post will then become executive chairman of co's board.  Full Article

CenturyLink says Delaware, Hawaii, Maryland and District of Columbia approve company's level 3 merger
Wednesday, 12 Apr 2017 09:02am EDT 

CenturyLink Inc :CenturyLink Inc- Delaware, Hawaii, Maryland and District of Columbia approve CenturyLink - level 3 merger.  Full Article

Centurylink and Level 3 shareholders approve merger
Thursday, 16 Mar 2017 04:15pm EDT 

CenturyLink Inc : CenturyLink and Level 3 shareholders approve merger . CenturyLink -about 96.3 percent of votes cast supported proposal to issue co's common stock to level 3 stockholders in connection with proposed merger . CenturyLink - co, level 3 continue to expect to receive remaining state, federal and international approvals in time to complete merger by Sept. 30, 2017 .CenturyLink - About 81.2 pct of level 3's outstanding shares, more than 98.8 pct of votes cast,voted in favor of approving merger at special meeting.  Full Article

Level 3 communications says entered into 12th amendment agreement to existing credit agreement
Monday, 27 Feb 2017 09:00am EST 

Level 3 Communications Inc : Level 3 Communications Inc- on February 22 unit entered into a twelfth amendment agreement to existing credit agreement - sec filing . Level 3 Communications Inc- tranche b 2024 term loan matures on February 22, 2024 - sec filing . Level 3 Communications - amendment to credit agreement to incur $4.6 billion in borrowings under existing credit agreement through new tranche b 2024 term loan .Level 3 Communications - proceeds of tranche b 2024 term loan used to pre-pay level 3 financing's $815 million tranche b-iii 2019 term loan among other things.  Full Article

Level 3 Q4 revenue $2.032 billion
Wednesday, 8 Feb 2017 04:15pm EST 

Level 3 Communications Inc : Q4 basic earnings per share $0.70 . Level 3 reports fourth quarter and full year 2016 results . Q4 revenue $2.032 billion versus I/B/E/S view $2.06 billion . Q4 earnings per share view $0.44 -- Thomson Reuters I/B/E/S . Level 3 communications inc says expect adjusted EBITDA of $2.94 to $3.00 billion and free cash flow of $1.10 to $1.16 billion for 2017 .Level 3 Communications Inc qtrly diluted earnings per share $0.69.  Full Article

Centurylink -refiled pre-merger notification under Hart-Scott-Rodino antitrust improvements act of 1976 related to Level 3 acquisition
Thursday, 12 Jan 2017 04:28pm EST 

Centurylink Inc : Centurylink -refiled pre-merger notification under hart-scott-rodino antitrust improvements act of 1976 in connection with previously-announced acquisition of level 3 . Centurylink inc- Centurylink and level 3 continue to expect their proposed transaction to be consummated in q3 of 2017 .Centurylink -following consultations with u.s. Doj, co withdrew its original Hart-Scott-Rodino notification on january 11, 2017.  Full Article

Level 3 Q3 earnings per share $0.40
Monday, 31 Oct 2016 06:35am EDT 

Level 3 Communications Inc : Q3 earnings per share $0.40 . Level 3 Communications Inc - now expect capital expenditures to be approximately 16 percent of total revenue for full year 2016 . Level 3 Communications Inc - reiterating outlook of 10 to 12 percent adjusted EBITDA growth and $1.0 to $1.1 billion of free cash flow for full year 2016 . Level 3 reports third quarter 2016 results .Q3 revenue $2.033 billion versus I/B/E/S view $2.07 billion.  Full Article

CenturyLink to acquire Level 3 Communications for about $34 bln
Monday, 31 Oct 2016 06:30am EDT 

Centurylink Inc : CenturyLink to acquire Level 3 Communications . Says deal for about $34 billion . Glen Post will serve as CEO and President and Sunit Patel will serve as CFO for combined company . Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink . CenturyLink expects transaction to be accretive to free cash flow in first full year following close of transaction . Deal for $66.50 per Level 3 share . Shareholders will own approximately 51 percent and Level 3 shareholders will own approximately 49 percent of combined company . Increased scale afforded by combined company is expected to generate $975 million of annual run-rate cash synergies . Expect to maintain CenturyLink's annual dividend of $2.16 per share . Intends to finance cash portion of deal through cash on hand at company and Level 3 and about $7 billion of additional indebtedness . Received financing commitments from BofA Merrill Lynch, Morgan Stanley & Co of about $10.2 billion for new secured debt facilities .All existing indebtedness of Level 3 is expected to remain in place at Level 3.  Full Article

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BRIEF-Zayo Group says Edward Morche resigned from co to rejoin Level 3 Communications

* Zayo group holdings inc - edward morche resigned from company to rejoin level 3 communications Source text for Eikon: Further company coverage: