Lumen Expands $2 Billion Bond Offering with Upsized Notes Due 2034

Lumen Technologies Expands and Prizes $2 Billion in First Lien Notes Due 2034 DENVER—(BUSINESS WIRE)—Lumen Technologies, Inc. (NYSE: LUMN) announced that its wholly-owned subsidiary, Level 3 Financing, Inc., has increased the size of its upcoming bond offering to $2 billion, reflecting a $750 million rise from the initial amount planned. The company is issuing 7.000% First Lien Notes, maturing on March 31, 2034. These notes were priced at par and will be fully guaranteed on a first lien basis by Level 3 Parent, LLC, and certain subsidiaries. Proceeds from the offering, combined with existing cash, will be used to redeem approximately $1.4 billion of existing high-interest debt and to partially redeem other senior notes, including payment of redemption premiums and related costs. The issuance is scheduled to close on August 18, 2025, subject to standard conditions. The notes are not registered under U.S. securities laws and are being offered only to qualified institutional buyers within the U.S. under Rule 144A and to non-U.S. persons outside the U.S. under Regulation S. Holders of these notes will not have registration rights. This release is not an offer to sell or a solicitat...