Lumen Technologies Subsidiary Secures $1.25 Billion in 8.5% Senior Notes Due 2036
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Lumen Technologies' subsidiary, Level 3 Financing, Inc., has completed a $1.25 billion offering of 8.5% Senior Notes due 2036. The funds, along with cash on hand, were used to purchase existing second lien notes and amend indentures to remove restrictive covenants and release collateral. The transaction included a new indenture with U.S. Bank Trust Company as trustee. This financial move aims to optimize the company's debt structure.
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