Lumen Technologies, Inc. (NYSE: LUMN) plans to offer $425 million aggregate principal amount of its 7.000% First Lien Notes due 2034.
The offering is by Lumen's subsidiary, Level 3 Financing, Inc.
Proceeds will be used for redeeming existing notes and related expenses.
Offer Details
$425 million aggregate principal amount of 7.000% First Lien Notes due 2034 are offered.
Purpose of Offering
Proceeds will be used for redeeming $373 million of 10.750% First Lien Notes due 2030 and related expenses.
Offer Restrictions
The First Lien Notes are being offered to qualified institutional buyers and non-U.S. persons.
- The offering aims to improve Lumen's debt structure and reduce interest costs.
- Redeeming the existing notes demonstrates strategic financial planning by Lumen.
Lumen's announcement of offering additional First Lien Notes reflects its proactive approach to managing its debt profile and optimizing its financial position in the market.