Monday, February 21, 2005

Level 3 Announces Agreements to Raise $880 Million in New Capital

Level 3 Communications announced agreements to sell $880 million aggregate principal amount of 10% convertible senior notes due 2011.
The following institutional investors have agreed to buy notes, either on behalf of their advisory clients, for the account of their affiliates or for their own account: Southeastern Asset Management; Davis Selected Advisers, L.P.; Fairfax Financial Holdings; Legg Mason Opportunity Trust; Markel Corporation; MSD Capital, L.P.; and The Torray Companies. The http://www.level3.com

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