Lumen Technologies, Inc. announced an offering of $750 million aggregate principal amount of Senior Notes due 2036 through its wholly-owned subsidiary, Level 3 Financing, Inc.
The offering includes concurrent cash tender offers to purchase outstanding Existing Second Lien Notes
Proceeds from the offering will be used to purchase Existing Second Lien Notes and for general corporate purposes
Senior Notes Offering
Level 3 Financing plans to offer $750 million in Senior Notes due 2036 to fund the Tender Offers and for general corporate purposes
Tender Offers
Concurrent cash tender offers will be made to purchase the outstanding Existing Second Lien Notes
Use of Proceeds
Net proceeds will be used to purchase Existing Second Lien Notes and for general corporate purposes
- The offer aims to reallocate the existing debt structure of Level 3 Financing
- It provides an opportunity to eliminate restrictive covenants and events of default on the Existing Second Lien Notes
Lumen Technologies' offering of Senior Notes and Tender Offers reflects strategic financial restructuring efforts.