---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-080820"
form_type: "8-K"
ticker: "LUMN"
cik: "0000018926"
company_name: "Lumen Technologies, Inc."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T06:38:51.041455+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lumen closes $4.5B debt refinancing; issues superpriority loans/notes, amends credit facilities

## Summary
- Entered SP RCF ($956M) and SP TLA ($377M), maturing June 2028; also SP TLB ($3.2B) maturing 2029/2030.
- Issued $811M in 4.125% superpriority secured notes due 2029/2030 in exchange for existing 4.000% secured notes.
- Level 3 issued $2.9B in new first lien notes (11.00%, 10.50%, 10.75%) and second lien notes (4.875%, 4.500%, 3.875%).
- Removed substantially all restrictive covenants and released guarantees on existing Lumen and Level 3 secured notes.
- Existing Lumen revolving commitments terminated; term B loans reduced to ~$57M; Level 3 term B loans reduced to ~$12M.

## SEC filing metadata
- accession: 0001193125-24-080820
- form_type: 8-K
- ticker: LUMN
- cik: 0000018926
- company_name: Lumen Technologies, Inc.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18926/000119312524080820/0001193125-24-080820-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18926/000119312524080820/d784318d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-080820
- JSON: https://secwatch.observer/filing/0001193125-24-080820.json
- Plain text: https://secwatch.observer/filing/0001193125-24-080820.txt

## Key facts
- Material Agreements
  Lumen Technologies, Inc. entered into Superpriority Revolving/Term A Credit Agreement with Bank of America, N.A. valued at $489 million SP RCF-A, $467 million SP RCF-B, $377 million SP TLA (effective 2024-03-22).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Value: $489 million SP RCF-A, $467 million SP RCF-B, $377 million SP TLA
  - Effective: 2024-03-22
  source text: On the Effective Date, Lumen, as borrower, the lenders party thereto and BofA, as administrative agent and collateral agent, entered into the Superpriority Revolving/Term A Credit Agreement (the “ RCF/TLA Credit Agreement ”) providing for (i) a superpriority “first out” series A revolving credit facility with commitments of approximately $489 million (the “ SP RCF-A ”), (ii) a superpriority “second out” series B revolving credit facility with commitments of approximately $467 million (the “ SP RCF-B ”, and together with the SP RCF-A, the “ SP RCF ”) and (iii) a superpriority secured term loan facility in the amount of approximately $377 million (the “ SP TLA ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/18926/000119312524080820/0001193125-24-080820-index.htm
- Material Agreements
  Lumen Technologies, Inc. entered into Amended and Restated Credit Agreement Amendment Agreement with Bank of America, N.A. valued at Amendment to Existing Lumen Credit Agreement; removed certain covenants, amended collateral agreemen (effective 2024-03-22).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Value: Amendment to Existing Lumen Credit Agreement; removed certain covenants, amended collateral agreemen
  - Effective: 2024-03-22
  source text: On the Effective Date, Lumen, as borrower, Bank of America, N.A. (“ BofA ”), as administrative agent and collateral agent, and the subsidiaries of Lumen, lenders and issuing banks party thereto entered into an amendment agreement (the “ Amendment Agreement ”) to that certain Amended and Restated Credit Agreement, dated as of January 31, 2020, among Lumen, the lenders and issuing banks party thereto and BofA, as administrative agent, collateral agent and swingline lender (as amended or otherwise modified prior to the date of the Amendment Agreement, the “ Existing Lumen Credit Agreement ” and, as amended, the “ Amended Lumen Credit Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/18926/000119312524080820/0001193125-24-080820-index.htm
- Material Agreements
  Lumen Technologies, Inc. entered into Second Supplemental Indenture to Lumen 4.000% Senior Secured Notes due 2027 with Computershare Trust Company, N.A. valued at Eliminated restrictive covenants and released guarantees and security interests (effective 2024-03-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Computershare Trust Company, N.A.
  - Value: Eliminated restrictive covenants and released guarantees and security interests
  - Effective: 2024-03-22
  source text: On the Effective Date, Lumen, certain subsidiaries of Lumen party thereto and Computershare Trust Company, N.A., as trustee and notes collateral agent, entered into a second supplemental indenture to the indenture, dated as of January 24, 2020, governing Lumen’s 4.000% senior secured notes due 2027 (the “ Existing Lumen Notes ”), that, among other things, (i) eliminated substantially all of the restrictive covenants and certain events of default and (ii) released the guarantees of the Existing Lumen Notes and the security interests in the collateral securing such notes (the “ Lumen Supplemental Indenture ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/18926/000119312524080820/0001193125-24-080820-index.htm

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