Lumen Technologies' indirect subsidiary, Level 3 Financing, Inc., announced the completion of its offering of $1.0 billion in aggregate principal amount of 7.500% Senior Notes due 2037. A portion of the net proceeds from this offering was used to fund the purchase of certain of its existing unsecured notes through concurrent tender offers and to pay related expenses.
Key Details
- Offering Details: The offering consists of $1.00 billion aggregate principal amount of 7.500% Senior Notes maturing in 2037, issued by Level 3 Financing, Inc. on May 21, 2026.
- Use of Proceeds: Net proceeds will be used to repurchase certain existing unsecured notes via concurrent tender offers and to pay associated fees and expenses.
- Note Terms: The notes are senior unsecured obligations, fully and unconditionally guaranteed by Level 3 Parent, LLC, and certain of its domestic subsidiaries. Interest is payable semi-annually on February 15 and August 15, beginning February 15, 2027.
- Redemption Provisions: The notes are redeemable at the issuer's option prior to August 15, 2031, at a "make-whole" premium. Up to 40% of the notes may be redeemed with proceeds from equity offerings prior to August 15, 2029.