---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-267280"
form_type: "8-K"
ticker: "LUMN"
cik: "0000018926"
company_name: "Lumen Technologies, Inc."
filed_at: "2023-10-31T23:59:59+00:00"
generated_at: "2026-06-09T05:00:27.853329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Lumen enters debt restructuring with $1.2B new money and maturity extensions from creditors

## Summary
- Transaction support agreement with creditors holding over $7B of Lumen and Level 3 debt to extend maturities and provide new money.
- Creditors backstop $1.2B new long-term senior secured first-lien debt at Level 3 Financing.
- Cleansing info: expects ~$900M tax refund, ~$700M cash in Q1 2024; cumulative benefit ~$600M through 2027.
- Free cash flow expected toward low end of previously disclosed range; Level 3 contributes 40-44% of consolidated EBITDA.
- Qwest Corp. and subsidiaries to provide unsecured guarantee of certain Lumen secured debt, subject to regulatory approvals.

## SEC filing metadata
- accession: 0001193125-23-267280
- form_type: 8-K
- ticker: LUMN
- cik: 0000018926
- company_name: Lumen Technologies, Inc.
- filed_at: 2023-10-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18926/000119312523267280/0001193125-23-267280-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18926/000119312523267280/d578129d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-267280
- JSON: https://secwatch.observer/filing/0001193125-23-267280.json
- Plain text: https://secwatch.observer/filing/0001193125-23-267280.txt

## Key facts
- Material Agreements
  Lumen Technologies, Inc. entered into Transaction Support Agreement with Level 3 Financing, Inc., Qwest Corporation, and certain holders of the debt of the Company and Level 3 valued at Comprehensive maturity extensions, $1,200 million in new money long term senior secured first lien i (effective 2023-10-31).
  - Action: entry
  - Counterparty: Level 3 Financing, Inc., Qwest Corporation, and certain holders of the debt of the Company and Level 3
  - Value: Comprehensive maturity extensions, $1,200 million in new money long term senior secured first lien i
  - Effective: 2023-10-31
  source text: On October 31, 2023, Lumen Technologies, Inc. (the “ Company ”) entered into a Transaction Support Agreement (together with all exhibits, annexes and schedules thereto, the “ Transaction Support Agreement ”) with (i) Level 3 Financing, Inc. (“ Level 3 ”), (ii) Qwest Corporation (“ Qwest ”, together with the Company and Level 3, the “ Company Parties ”), and (iii) certain holders of the debt of the Company and Level 3 (such holders, the “ Consenting Parties ” and together with the Company Parties, the “ Parties ”) to define their commitments to effect a series of transactions to provide the Company and Level 3 with comprehensive maturity extensions while allowing them to maintain sufficient operating liquidity and financial flexibility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/18926/000119312523267280/0001193125-23-267280-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.