Level 3 Unsecured Bondholders Select Moelis as Financial Adviser

Some unsecured noteholders of Lumen Technologies Inc.’s Level 3 Communications unit engaged Moelis & Co. as the telecommunications company weighs a possible debt restructuring, according to people with knowledge of the situation.

• The engagement follows the retention of law firm Akin Gump Strauss Hauer & Feld, Bloomberg previously reported
• Representatives with Moelis declined to comment, while messages for Akin were not returned
  • Reorg earlier reported on the Moelis mandate
• Multiple creditor groups have submitted restructuring plans to offer the company fresh capital and an extension of certain debt maturities, Bloomberg reported
• Some creditors are exploring whether the new ...