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Level 3 Communications Inc (LVLT.N)

LVLT.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Level 3 Communications Q2 earnings per share $0.42
Wednesday, 27 Jul 2016 06:50am EDT 

Level 3 Communications Inc : Q2 earnings per share $0.42 . Expect full year 2016 adjusted EBITDA growth of 10 to 12 percent . Sees FY free cash flow of $1.0 to $1.1 billion . Level 3 reports second quarter 2016 results . Q2 revenue $2.056 billion versus I/B/E/S view $2.08 billion . Qtrly diluted earnings per share of $0.41 . Expect full year 2016 adjusted EBITDA growth of 10 to 12 percent and free cash flow of $1.0 to $1.1 billion .Q2 earnings per share view $0.44 -- Thomson Reuters I/B/E/S.  Full Article

Level 3 Communications statement on FCC action to unlock $45 Billion Business Data Services
Thursday, 28 Apr 2016 05:00pm EDT 

Level 3 Communications:Issued the statement below in reaction to steps taken at today's Federal Communications Commission (FCC) meeting to unlock the market for business data services (formerly known as "special access" services).For more than a decade, the FCC has investigated the competitiveness of pricing and terms for business data services.  Full Article

Level 3 Communications Inc updates FY 2016 EBITDA outlook
Thursday, 28 Apr 2016 06:50am EDT 

Level 3 Communications Inc:Expects Fy 2016 adjusted EBITDA growth of 10 to 12 percent, compared to the company's previous outlook of 9 to 12 percent.  Full Article

Level 3 Communications Inc announces pricing of private offering of senior notes
Tuesday, 8 Mar 2016 05:22pm EST 

Level 3 Communications Inc:Says Level 3 Financing Inc, its wholly owned subsidiary has agreed to sell $775 million aggregate principal amount of its 5.25% Senior Notes due 2026.Notes were priced to investors at 100 percent of their principal amount and will mature on March 15, 2026.  Full Article

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BRIEF-Ohio, Utah approve merger of Centurylink and Level 3 Communications

* Centurylink - Ohio, Utah approve the merger of Centurylink and Level 3 Communications; merger also received regulatory clearance from State of Nevada