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Lumen Technologies, Inc. has announced that its subsidiary, Level 3 Financing, Inc., will issue an additional $425 million in 7.000% First Lien Notes due 2034. This strategic move aims to optimize the company’s capital structure and support its growth in delivering secure, high-performance network solutions for AI and digital transformation.
Lumen’s subsidiary offers $425M in 7.000% First Lien Notes due 2034.
Proceeds to redeem $373M of 10.750% Notes due 2030.
Notes align with $2B initial issuance from August 18, 2025.
Strengthens Lumen’s financial strategy for AI-driven connectivity.
Offered to qualified institutional buyers under Rule 144A.
Supports Lumen’s mission to enhance secure network solutions.
On September 4, 2025, Lumen Technologies revealed that its wholly-owned subsidiary, Level 3 Financing, Inc., plans to issue $425 million in additional 7.000% First Lien Notes due 2034. This offering builds on the $2 billion initial issuance on August 18, 2025, forming a single series with identical terms, except for issue date and price. The move is part of Lumen’s strategy to streamline its financial structure and fund growth initiatives in AI and network connectivity.
Level 3 Financing will use the net proceeds, combined with cash on hand, to redeem all $373 million of its 10.750% First Lien Notes due 2030, including redemption premiums and related expenses. This refinancing reduces interest costs, enhancing Lumen’s financial flexibility to support its high-performance, secure network services for enterprises leveraging AI. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, ensuring compliance with securities regulations.
Lumen’s focus on AI-driven connectivity aligns with its mission to connect people, data, and applications seamlessly. The notes offering strengthens Lumen’s ability to deliver scalable network solutions, from metro connectivity to edge cloud services, meeting the growing demands of digital transformation. By optimizing its capital structure, Lumen is well-positioned to support businesses in harnessing AI’s potential while maintaining robust security and efficiency.
This additional notes offering underscores Lumen Technologies’ commitment to financial agility and innovation. By leveraging the proceeds to reduce higher-cost debt and fund strategic initiatives, Lumen reinforces its role as a trusted network provider for the AI era, driving growth and connectivity for enterprises worldwide.
Lumen is unleashing the world's digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI's full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital platform capabilities, we meet our customers’ needs today and as they build for tomorrow.
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