---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-223206"
form_type: "8-K"
ticker: "LUMN"
cik: "0000018926"
company_name: "Lumen Technologies, Inc."
filed_at: "2025-09-29T23:59:59+00:00"
generated_at: "2026-05-17T05:27:09.590688+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Lumen reprices $2.4B term loan and issues $425M notes, saving $34M annually in interest

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-223206
- form_type: 8-K
- ticker: LUMN
- cik: 0000018926
- company_name: Lumen Technologies, Inc.
- filed_at: 2025-09-29T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/18926/000119312525223206/0001193125-25-223206-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/18926/000119312525223206/d47306d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-223206
- JSON: https://secwatch.observer/filing/0001193125-25-223206.json
- Plain text: https://secwatch.observer/filing/0001193125-25-223206.txt

## Key facts
- Debt Financings
  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
  source text: (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
  evidence_url: https://www.sec.gov/Archives/edgar/data/18926/000119312525223206/0001193125-25-223206-index.htm

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