Highest-materiality recent filing
Lumen subsidiary issues $1.0B of 7.500% Senior Notes due 2037
Level 3 Financing issued $1.0B aggregate principal amount of 7.500% Senior Notes due 2037.
Lumen subsidiary Level 3 refinances $2.4B term loan, cuts margin to SOFR+2.75%
Term Loan Facility of $2.4B, matures March 27, 2032, with no amortization.
Lumen unit prices $1B 7.5% notes due 2037; launches $750M tender for existing notes
Level 3 Financing prices $1B of 7.500% Senior Notes due 2037 at 100% of par; coupon 7.5%.
Lumen Q1 net loss flat at $(0.20)/share; EBITDA down; announces Alkira acquisition
Q1 2026 revenue $2.899B; net loss $(200)M ($(0.20) diluted EPS), flat YoY.
Lumen guarantees Level 3 debt; Level 3 Parent ends separate SEC filings
Lumen provides unconditional senior unsecured guarantee on Level 3's 6.875% notes due 2033 and 7.000% notes due 2034.
Lumen/Qwest launch exchange offers for ~$1.64B of notes; plan to delist old notes
Exchange offers for $977.5M of 6.5% notes due 2056 and $660M of 6.75% notes due 2057.
Mark Hacker, EVP Chief Legal Officer & Public Sector, will retire on May 15, 2026; ceases role on Apr 20.
Lumen enters $825M revolving credit facility, replacing prior credit agreement
New $825M revolving credit facility matures April 14, 2029; proceeds for general corporate purposes.
Lumen completes $5.75B fiber sale to AT&T; pro forma net loss widens to $1.87B for 9M 2025
Net cash proceeds of ~$5.72B from sale of Mass Markets fiber-to-the-home business in 11 states.
Lumen closes $5.75B AT&T deal; Q4 rev $3.04B, adj EPS $0.23; 2026 EBITDA outlook $3.1-$3.3B
Completed $5.75B AT&T transaction; reduced debt by over $4.8B, net leverage below 4x, interest expense down ~45%.
Lumen closes $5.75B sale of consumer fiber business to AT&T; targets debt reduction
Cash consideration of $5.75B for Mass Markets fiber-to-the-home in 11 states, serving >1M customers across 4M fiber locations.
Lumen sub Level 3 Financing issues additional $650M of 8.5% notes due 2036 for tender offers
Upsized offering to $1.9B total ($1.25B initial + $650M additional) of 8.500% Senior Notes due 2036.
Level 3 Financing issued $1.25B aggregate principal of 8.500% Senior Notes due 2036.
Lumen expands note tender to any-and-all after $2.124B early participation, $1.5B accepted
Early tender results: $2.124B aggregate principal tendered across four note series; $1.5B accepted for purchase.
Lumen subsidiary prices $1.25B 8.500% Senior Notes due 2036; tender offer upsized to $1.5B
Level 3 Financing priced $1.25B of 8.500% Senior Notes due Jan 15, 2036; upsized from $750M.
Lumen CTO David Ward resigns; Board appoints James Fowler as successor
David Ward, EVP and Chief Technology & Product Officer, resigned effective Jan 5, 2026, to become President & Chief Architect at Salesforce.
Lumen reports Q3 net loss of $621M; PCF deals reach $10B+; reaffirms FY outlook
Net loss $621M ($0.62 diluted loss per share); adjusted loss per share $0.20 vs $0.13 YoY.
Lumen reprices $2.4B term loan and issues $425M notes, saving $34M annually in interest
Level 3 repriced $2.4B term loan to Term SOFR+3.25%, reducing spread by 100bps, saving $24M/year.
Lumen subsidiary Level 3 Financing issues $425M of 7.000% notes to redeem $373M of 10.750% notes
Level 3 Financing, Inc. issued $425M aggregate principal of 7.000% First Lien Notes due 2034 on September 8, 2025.
Additional $425M of 7.000% First Lien Notes due 2034 priced at 100%; expected close Sept 8, 2025.
Lumen's subsidiary closes $2B 7% first lien notes due 2034, redeems higher-cost debt
Closed $2.0B aggregate principal of 7.000% First Lien Notes due 2034 (maturity March 31, 2034).
Lumen's Level 3 Financing upsizes note offering to $2.0B at 7.000% to refinance higher-cost debt
Offering increased to $2.0B aggregate principal of 7.000% First Lien Notes due 2034, up from previously planned $1.25B.
Revenue $3.092B (-5% YoY); Adjusted EBITDA ex-specials $877M vs $1.011B YoY.
Lumen subsidiary closes $2B 6.875% notes due 2033, redeems higher-cost debt
Level 3 Financing issued $2.0B of 6.875% First Lien Notes due June 30, 2033.
Lumen sub Level 3 upsizes note offering to $2B at 6.875%, redeems higher-cost debt
Level 3 Financing upsized offering from $1B to $2B of 6.875% First Lien Notes due 2033.
Lumen sells consumer fiber business to AT&T for $5.75B, to focus on enterprise networking
AT&T to acquire Lumen's Mass Markets fiber-to-the-home business, including Quantum Fiber, for $5.75B in cash.
Lumen shareholders approve reverse stock split (1:2 to 1:15) and simple majority voting proposal
Reverse stock split authorized at range 1:2 to 1:15, with proportional reduction in authorized shares, effective through May 13, 2026.
Lumen Q1 net loss $201M; revenue $3.18B, adjusted EBITDA $929M
Revenue $3.18B (-3% YoY); net loss $201M vs net income $57M; diluted loss per share $0.20.
Lumen Q4 net income $85M, EPS $0.09; revenue $3.33B (-5% YoY); FY net loss narrows
Net income $85M in Q4 2024 vs net loss of $1.995B a year ago; diluted EPS $0.09 vs ($2.03).
Lumen Q3 net loss widens to $148M; revenue down 12% to $3.22B; free cash flow surges to $1.18B
Net loss of $148M ($0.15 diluted EPS) vs $78M loss ($0.08) YoY; adjusted EPS loss $0.13.
Lumen appoints former Microsoft CMO Chris Capossela to board of directors
Board increased from 11 to 12 members; Capossela's appointment effective October 29, 2024.
Lumen issues $464k of 10% secured notes due 2032 as final exchange settlement
Final settlement on Oct 4: Lumen issued $464,325 in 10.000% secured notes due 2032 for $549,000 of unsecured notes.
Lumen issued $438.3M of 10% secured notes due 2032; Level 3 issued $350M of 10% second lien notes due 2032.
Lumen and Level 3 early tender results: $850M secured notes exchange, Level 3 cap reached
Lumen accepted $136.9M of 2026 notes, $187.9M of 2027 notes, $80.3M of 2028 notes, $85.6M of 2029 notes.
Lumen launches exchange offers for up to $850M in unsecured notes for new secured notes
Lumen offers up to $500M of new 10% secured notes due 2032 for its unsecured notes (2026-2029 maturities).
Lumen Q2 net loss $49M vs $8.736B loss a year ago; revenue down 11% to $3.27B
Diluted loss per share $0.05; adjusted EPS loss $0.13 vs $0.10 gain a year ago.
Lumen secures $5B in new AI-driven connectivity contracts; potential for additional $7B sales
$5B in new Private Connectivity Fabric solutions sold; another $7B in active discussions.
On October 29, 2024, the board of directors (the “Board”) of Lumen Technologies, Inc. (the “Company”), on the recommendation of its nominating and corporate governance committee, voted to increase its size from 11 members to 12 members and to appoint Christopher Capossela to fill the newly-created vacancy.
On May 6, 2024, Lumen Technologies, Inc. (the “Company”) announced that Mr. Stacey Goff, the general counsel and secretary of the Company and its principal subsidiaries, will be leaving the Company
and that Mr. Chad Ho will succeed Mr. Goff as chief legal officer.
Max materiality 0.90 · Median 0.65 · Most common event debt