Worth Watching News for Traders: CenturyLink (NYSE:CTL)

On Tuesday CenturyLink (NYSE:CTL) stock fell -2.92% and closed at 14.62. The stock opened the session at $15 and touched its highest price point at $15.03. Its recent trading capacity is 18904346 shares versus to its average trading volume of 13066326 shares. The company’s stock’s lowest price point for the session stood at $14.37.CTL traded as low as $ 9.64 in the past 52 weeks, and shares hit its peak level to $19.53.

On Nov. 12, 2019, Global technology leader CenturyLink (NYSE:CTL) revealed that Level 3 Financing, its indirect, wholly owned subsidiary (Level 3 Financing), plans to offer $750 million aggregate principal amount of senior secured notes that will bear interest at a fixed rate (the Notes) in a proposed private offering that will not be registered under the Securities Act of 1933.

Level 3 Financing’s obligations under the Notes will be guaranteed on a secured basis by its direct parent, Level 3 Parent, LLC, and certain of its material domestic subsidiaries that guarantee the term loans under Level 3 Financing’s existing senior secured credit facility, subject in certain instances to receipt of regulatory approval.  Such guarantees, when provided by each entity, will be secured by liens on substantially the same collateral that is pledged to secure the term loans under that senior secured credit facility.

The net proceeds from the offering are expected to be used to repay or retire a portion of the $4.611 billion senior secured Tranche B 2024 term loans under Level 3 Financing’s existing senior secured credit facility.

The Notes will not be registered under the Securities Act of 1933 or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Accordingly, the Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Notes will not have registration rights.

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