Lumen subsidiary Level 3 Financing prices $425M additional 7.000% notes due 2034; redeems $373M 10.750% notes

Lumen Technologies, Inc.

Additional $425M of 7.000% First Lien Notes due 2034 priced at 100%; expected close Sept 8, 2025.
Proceeds plus cash used to redeem all $373M of 10.750% First Lien Notes due 2030, plus premium and fees.
Notes are further issuance of $2B initial notes issued Aug 18, 2025; same terms except issue date/price.
Lumen expects to amend credit agreement to add new B-4 term loans and adjust SOFR floor to 0.00% (subject to market conditions).

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