Lumen (LUMN) Tumbles 5% on Investor Caution Over Early Notes Redemption

Group 1 - Lumen Technologies, Inc. (NYSE:LUMN) experienced a decline of 5.13% to close at $7.77, following investor caution regarding its early debt redemption plan [1][2] - The company announced it would redeem all its notes due in 2029, 2030, and 2031, raising concerns among shareholders about potential cash burn and the issuance of new notes [2][3] - Lumen plans to raise $1.25 billion through the issuance of senior notes due in 2036, which is $500 million more than initially planned, with a yield rate of 8.5% [2][3][4] Group 2 - The 2036 notes will be priced at 100% of their aggregate principal amount and are set to mature on January 15, 2036, with guarantees from Level 3 Parent, LLC and certain subsidiaries [4]