Lumen and Level 3 launch cash tender offers for ~$945M in notes at discounts to par

Lumen Technologies, Inc.

Lumen offers to buy any/all of 5 note series ($338M outstanding); Level 3 offers 3 series ($607M outstanding).
Tender consideration per $1,000 ranges from $860 (4.250% Level 3 2028) to $1,000 (5.625% Lumen 2025).
Offers expire Nov 18, 2024 at 5:00 PM ET; settlement expected Nov 19 (regular) or Nov 21 (guaranteed delivery).
Citigroup Global Markets Inc. is lead dealer manager; no minimum tender condition for any offer.

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