Lumen Technologies, Inc. Announces Pricing of its 8.500% Senior Notes Due 2036 and Upsize of Previously Announced Debt Tender Offers

Core Viewpoint - Lumen Technologies, through its subsidiary Level 3 Financing, is increasing its offering of Senior Notes to $1.25 billion, which is a $500 million increase from the previously announced amount [1][4]. Group 1: Offering Details - Level 3 Financing is selling $1.25 billion aggregate principal amount of 8.500% Senior Notes due January 15, 2036, priced at 100.000% of their aggregate principal amount [1][2]. - The Notes will be fully guaranteed by Level 3 Parent, LLC, and certain unregulated subsidiaries on an unsubordinated and unsecured basis [2]. - The offering is expected to be completed on December 23, 2025, subject to customary closing conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to purchase Existing Second Lien Notes and to pay related fees and expenses, with any remaining funds allocated for general corporate purposes [3]. - Level 3 Financing is conducting cash tender offers to purchase outstanding notes, increasing the aggregate purchase price to $1.5 billion from the previously announced $1.0 billion [4]. Group 3: Regulatory Information - The Notes will not be registered under the Securities Act of 1933 and are being offered only to qualified institutional buyers and non-U.S. persons [5]. - This press release does not constitute an offer to sell or solicit offers to buy the Notes or Existing Second Lien Notes in any jurisdiction where such actions would be unlawful [6]. Group 4: Company Overview - Lumen Technologies aims to unleash digital potential by connecting people, data, and applications, focusing on business growth and AI capabilities [7].