Lumen's Level 3 Financing upsizes note offering to $2.0B at 7.000% to refinance higher-cost debt

Lumen Technologies, Inc.

Offering increased to $2.0B aggregate principal of 7.000% First Lien Notes due 2034, up from previously planned $1.25B.
Net proceeds will redeem all $1.408B of 11.000% First Lien Notes due 2029 and partially redeem 10.750% First Lien Notes due 2030.
Expected closing on August 18, 2025, subject to customary conditions.
Notes are priced at par and will mature March 31, 2034; guaranteed on a first lien secured basis by Level 3 Parent and certain subsidiaries.

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