On September 17, 2024, Lumen Technologies, Inc. and its subsidiary Level 3 Financing, Inc. announced the early tender results of their exchange offers for certain outstanding unsecured notes. The exchange offers, which were initiated on September 3, 2024, involve Lumen offering to exchange up to $500 million of its newly-issued 10.000% secured notes due 2032 and cash consideration for various series of its outstanding unsecured senior notes. Similarly, Level 3 offered to exchange up to $350 million of its newly-issued 10.000% second lien notes due 2032 for certain of its outstanding unsecured senior notes. The early tender results indicate that the aggregate principal amount of notes tendered by the early deadline of September 16, 2024, did not exceed the caps set by Lumen and Level 3, allowing for the acceptance of all validly...Show More

On September 17, 2024, Lumen Technologies, Inc. and its subsidiary Level 3 Financing, Inc. announced the early tender results of their exchange offers for certain outstanding unsecured notes. The exchange offers, which were initiated on September 3, 2024, involve Lumen offering to exchange up to $500 million of its newly-issued 10.000% secured notes due 2032 and cash consideration for various series of its outstanding unsecured senior notes. Similarly, Level 3 offered to exchange up to $350 million of its newly-issued 10.000% second lien notes due 2032 for certain of its outstanding unsecured senior notes. The early tender results indicate that the aggregate principal amount of notes tendered by the early deadline of September 16, 2024, did not exceed the caps set by Lumen and Level 3, allowing for the acceptance of all validly tendered notes. The early settlement date is expected to be on or about September 24, 2024, where Lumen anticipates issuing $438,305,345 in new secured notes and paying $13,694,400 in cash, while Level 3 expects to issue $349,999,160 in new second lien notes. The exchange offers are only available to eligible holders, and the new notes have not been registered under the Securities Act or any state or foreign securities laws.