Level 3 Communications, Inc. today announced that its wholly owned subsidiary, Level 3 Financing, Inc. has closed its $220 million senior secured Tranche B Term Loan announced on April 6. Net proceeds were approximately $214 million.
Level 3 Financing, Inc. amended and restated its existing senior secured credit facility to include this new tranche and no changes were made to any of the restrictive covenants contained in the existing senior secured credit facility.
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