Lumen Technologies (LUMN) on Monday announced plans to offer $750M of senior notes due 2036 and commencement of concurrent cash tender offers to purchase certain outstanding notes.
The Monroe, LA-based networking company said its unit Level 3 Financing intends to use the net proceeds from the offering, together with any required cash on hand or other available liquidity, to purchase existing second lien notes and for general corporate purposes.
The up to $1B existing second lien notes to be purchased are 4.000% notes due 2031, 3.875% notes due 2030, 4.500% notes due 2030, and 4.875% notes due 2029.
The tender consideration per $1,000 principal amount for the 4.000% notes due 2031 is $885.00, for the 3.875% notes due 2030 is $892.50, for the 4.500% notes due 2030 is $922.50, and for the 4.875% notes due 2029 is $955.00.
The company expects to grant an early tender premium of $30.00.
The tender offers and consent solicitations will expire at 5 PM EST on Jan. 7, 2026.