Lumen Announces a Refinancing of its Term Loans under the Level 3 Financing, Inc. Credit Agreement
Lumen Technologies, Inc. (NYSE: LUMN) ("Lumen" or the "Company") today announced the successful completion of a refinancing transaction at Level 3 Financing, Inc. ("Level 3"), giving it greater financial flexibility and stability to fund its transformation. All of Level 3's existing term loans under its Credit Agreement, dated March 22, 2024 (the "Credit Agreement"), were replaced with a new $2.4 billion term loan maturing in 2032 and priced at Term SOFR + 4.25%. The refinancing represents (i) a