Level 3 to sell $300 million worth of bonds

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Level 3 Communications Inc. plans to sell $300 million worth of new bonds, the company said Tuesday, using the cash to pay back debt coming due this year.

Level 3, which provides the type of Internet infrastructure that helps deliver Netflix Inc.’s popular streaming movie service, said the new notes will come due in 2019.

The company plans to use the proceeds to pay off 5.25 percent notes due later this year.

Its stock climbed 2 cents to $1.13 ahead of regular trading.