Lumen subsidiary upsizes additional notes offering to $650M at 8.500% due 2036

Lumen Technologies, Inc.

Level 3 Financing upsized additional notes to $650M (from $600M) of 8.500% Senior Notes due 2036, priced at 101.750%.
Notes are a further issuance of $1.25B Initial Notes issued Dec 23, 2025; same terms except issue date and price.
Net proceeds to fund purchases of Existing Second Lien Notes (4.000% 2031, 3.875% 2030, 4.500% 2030, 4.875% 2029) via tender offers.
Early settlement on Dec 23, 2025 purchased $1.57B of Existing Second Lien Notes; tender offers expire Jan 7, 2026.
Notes offered in private placement under Rule 144A/Reg S; no registration rights.

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