Lumen Secured Creditors Prepare for Confidential Debt Talks

Some holders of Lumen Technologies Inc.’s secured debt have signed non-disclosure agreements to look at a restructuring proposal negotiated by creditors to the company’s Level 3 Communications unit, according to people familiar with the matter.

• The Level 3 creditors — advised by Davis Polk & Wardwell and Houlihan Lokey Inc. — have been holding confidential talks with the company about a deal to provide fresh capital and debt maturity extensions
  • Read More: Lumen Creditors Propose Debt Extension, Fresh Cash for Company
  • The deal may also call for the exchange of Level 3 unsecured notes into higher-ranking securities, according ...