Lumen Technologies in the completion of its liability management transactions

On March 22, 2024, Lumen Technologies, Inc. successfully consummated the transactions contemplated by a previously executed transaction support agreement to extend maturities and raise new financing.  Creditors holding over $15 billion of Lumen’s debt and revolving commitments participated.  As a result, Lumen significantly improved its near-term maturity profile: the amount of debt maturing in 2025, 2026 and 2027 fell by over $10 billion.  Lumen also closed an approximately $1 billion revolving credit facility maturing in 2028 and raised $1.325 billion of new money financing through a private placement of secured notes due 2029.

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