Lumen Subsidiary Plans $1.25 Billion Note Offering to Reduce Debt

Lumen Technologies announced that its fully owned subsidiary, Level 3 Financing, plans to issue $1.25 billion in First Lien Notes maturing in 2034. The capital raised will be used to partially redeem $1.075 billion of existing 11% First Lien Notes due 2029, covering redemption costs and associated expenses. Currently, Lumen's stock trades at $3.72 on the NYSE, marking a modest increase of $0.01. This move aims to strengthen the company's financial position and manage its debt portfolio effectively.