Lumen in its refinancing transaction to extend existing debt maturities

On October 31, 2023, Lumen Technologies, Inc. announced that it has entered into a transaction support agreement with a group of creditors holding over $7 billion of the outstanding indebtedness of Lumen and its subsidiaries in connection with a refinancing transaction to, among other things, extend maturities of the debt instruments of Lumen and certain of its subsidiaries.  In addition, the creditors have committed to provide $1.2 billion of financing to Lumen through new long-term debt.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Lumen.