Lumen Technologies Launches Debt Swap for Near-Term Bonds

Lumen Technologies launched a debt exchange Tuesday, offering newly-issued notes due in 2032 for bond maturing over next few years, according to a press release.

• The company is seeking to extend the maturity profile of its unsecured debt tied to Lumen and its Level 3 unit
• Consenting lenders can exchange their existing holdings into higher ranking paper and receive certain cash considerations, when applicable
• Lumen is offering to exchange:
  • 5.125% Notes due 2026
  • 4.000% Notes due 2027
  • 6.875% Debentures, Series G, due 2028
  • 4.500% Notes due 2029
• Level 3 is offering to exchange:
  • 3.400% Notes due 2027
  • 4.625% Notes ...