Level 3 Financing’s $4.6 Billion of Term Loans
March 23, 2017
Cravath represented Merrill Lynch Capital Corporation and Bank of America, N.A. in connection with the arrangement of approximately $4.6 billion of incremental Tranche B Term Loans made available to Level 3 Financing, Inc., a wholly owned subsidiary of Level 3 Communications, Inc. The proceeds of the term loans were used to refinance existing indebtedness. Level 3 Communications, Inc. is a leading provider of integrated communications services. The transaction closed on February 22, 2017.
The Cravath team included partner James D. Cooper, senior attorneys Kimberly A. Grousset and Jin Hee Kim and associate Saarah Woodby on banking matters and partner J. Leonard Teti II and associate Joyce Y. Kim on tax matters.
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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J.D., 1979, Yale Law School
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A.B., 1976, University of ChicagoPhi Beta Kappa, summa cum laude
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September 24, 2025
Level 3 Financing, Inc.’s High‑Yield First Lien Notes Tack‑On Offering
Cravath represented the initial purchasers in connection with the $425 million 144A/Reg. S high‑yield first lien notes tack‑on offering of Level 3 Financing, Inc., guaranteed by Level 3 Parent, LLC. Level 3 Financing, Inc. is a direct wholly‑owned subsidiary of Level 3 Parent, LLC and indirect wholly‑owned subsidiary of Lumen Technologies, Inc., a facilities‑based technology and communications company that provides a broad array of integrated products and services. The transaction closed on September 8, 2025.
