Lumen Technologies Boosts, Prices First Lien Notes Due ‘33 (1)

Lumen Technologies’ subsidiary, Level 3 Financing, agreed to sell $2 billion of its 6.875% First Lien Notes due 2033, which represents a $1 billion increase from the previously announced size of the offering.

• First Lien Notes were priced to investors at par and will mature on June 30, 2033
• Proceeds from the offering, together with cash on hand, will be used to redeem:
  • All $924.522 million aggregate principal amount of Level 3 Financing’s first lien 10.500% Senior Secured Notes due 2030
  • All $667.711 million aggregate principal amount of Level 3 Financing’s 10.500% First Lien Notes due 2029
  • Partially redeem Level ...