Lumen Technologies Offers to Buy Back $945 Million of Bonds

Lumen Technologies Inc. is offering to repurchase a combined $945 million of bonds maturing through 2028 in the wake of a recent AI-driven boost to its business.

The tender offer involves eight securities and is scheduled to expire at 5 p.m. New York time on Nov. 18, according to a statement Tuesday. Lumen has retained Citigroup Inc. to act as lead dealer manager.

Lumen is offering between 86 and 100 cents on the dollar for the notes in question. The company’s bonds and shares have surged this year as it gains new business from artificial intelligence growth. Lumen last month ...