(RTTNews) - Lumen Technologies, Inc. (LUMN) announced that its wholly-owned subsidiary, Level 3 Financing, Inc., has agreed to sell $1.25 billion aggregate principal amount of 8.500% Senior Notes due 2036. This represents a $500 million increase from the previously announced size of the offering.
The Notes were priced at 100% of their aggregate principal amount and will mature on January 15, 2036. Upon issuance, they will be fully and unconditionally guaranteed, on an unsubordinated and unsecured basis, by Level 3 Parent, LLC—the direct parent of Level 3 Financing—and certain unregulated subsidiaries.
Level 3 Financing intends to use the net proceeds, together with cash on hand or other available liquidity, to purchase its existing Second Lien Notes through tender offers and to pay related fees and expenses. Any remaining proceeds will be used for general corporate purposes.
The offering is expected to close on December 23, 2025, subject to customary closing conditions.
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