Lumen Technologies, Inc. (LUMN): debt financing — Lumen reprices $2.4B term loan and issues $425M notes, saving $34M annually in interest

Lumen Technologies, Inc.

Level 3 repriced $2.4B term loan to Term SOFR+3.25%, reducing spread by 100bps, saving $24M/year.
Issued additional $425M of 7% First Lien Notes due 2034; used proceeds to redeem $373M of 10.75% Notes due 2030, saving $10M/year.
Combined transactions extend maturities beyond 2030 and provide greater financial flexibility for AI investment.
Covenant modifications provide additional flexibility to Level 3.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lumen Technologies, Inc. amended term loan of $2,400 million at SOFR plus 3.25% maturing March 27, 2032.

Instrument: term loan
Principal: $2,400 million
Rate: SOFR plus 3.25%
Maturity: March 27, 2032
Event: amendment

Exact text from the filing

(the “Term Loan Facility”), and to make related changes to effect such repricing, as described below. Immediately following the Credit Facilities Transactions, Level 3 had $2,400 million of outstanding borrowings under the Term Loan Facility. Borrowings under the Term Loan Facility will not amortize. Borrowings under the Term Loan Facility will be, at Level 3’s

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Lumen Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-223206

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