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- Lumen Technologies’ (NYSE:LUMN) subsidiary, Level 3 Financing, , has agreed to sell $425M in 7.000% First Lien Notes due 2034.
- These notes are an additional issuance to the $2B already issued on August 18, 2025, and will form a single series with the existing notes.
- The new notes were priced at 100% of face value and will mature on March 31, 2034.
- Upon issuance, the notes will be guaranteed on a first lien secured basis by Level 3 Parent and certain unregulated subsidiaries.
- Net proceeds, along with cash on hand, will be used to redeem $373M of 10.750% First Lien Notes due 2030, and pay related fees and expenses.
- The offering is expected to close on September 8, 2025.
- Source: Press release
