Level 3 Communications signed an exchange agreement with an institutional investor to exchange a combination of cash and a new issue of the company’s 7% Convertible Senior Notes due March 15, 2015 (the “Notes”) for a portion of the Company’s existing 6% Convertible Subordinated Notes due 2010 and its 2.875% Convertible Senior Notes due 2010 held by the investor on behalf of its client accounts.
Level 3 now has, after the close of today’s announced transaction and excluding capital leases, approximately $60 million of debt due in 2009, approximately $181 million of debt due in 2010, approximately $505 million of debt due in 2011 and approximately $306 million of debt due in 2012http://www.Level3.com
