Level 3 Financing has secured a new credit facility worth $650 million. The wholly owned subsidiary of Level 3 Communications will add the new Tranche B II term loan to its existing $1.68 billion senior secured credit line.
The new loan, which will mature on Sept. 1, 2018, will be used to refinance outstanding indebtedness of Global Crossing and its subsidiaries. Merrill Lynch, Pierce, Fenner & Smith, Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley Senior Funding and Credit Suisse Securities (USA) will be the joint lead arrangers and joint book-running managers on the transaction.
Click here for the release from PR Newswire.