Lumen Subsidiary to Offer Additional $425M in 7.000% Notes Due 2034

Lumen subsidiary, Level 3 Financing, plans to issue $425M in 7.000% First Lien Notes due 2034, adding to the $2B in notes originally issued in August 2025. The new issuance forms a single series, with proceeds to be used for general corporate purposes.

Lumen Technologies, Inc. (NYSE: LUMN) has announced that its wholly-owned subsidiary, Level 3 Financing, Inc., plans to issue an additional $425 million in 7.000% First Lien Notes due 2034. This new issuance follows a previous offering of $2 billion in First Lien Notes on August 18, 2025, forming a single series [1].

The Additional First Lien Notes will be used to redeem $373 million of 10.750% First Lien Notes due 2030, including payment of redemption premium, and to cover related fees and expenses. The notes are being offered only to qualified institutional buyers and non-U.S. persons outside the United States, in accordance with Rule 144A and Regulation S, respectively [1].

The issuance is part of Lumen Technologies' ongoing efforts to manage its debt obligations and financial structure. The company has not specified the exact use of the remaining proceeds from the issuance, but it has indicated that they will be used for general corporate purposes.

Investors should note that the issuance of additional debt may impact Lumen Technologies' financial leverage and interest expenses. However, the company has stated that it expects the proceeds from the offering to be used efficiently to reduce its debt obligations and improve its financial position [1].

The stock market reacted positively to the news, with LUMN shares up 1.3% premarket on Thursday [2].

References:
[1] https://www.stocktitan.net/news/LUMN/lumen-technologies-inc-announces-offering-of-its-additional-7-000-32t8vdeb6e8c.html
[2] https://seekingalpha.com/news/4492235-lumen-subsidiary-to-offer-425m-in-additional-7000-notes-due-2034