US EditionLumen Announces a Refinancing of its Term Loans under the Level 3 Financing, Inc. Credit Agreement
- Lumen Technologies, Inc. Announced the successful completion of a refinancing transaction for its subsidiary Level 3 Financing, Inc., providing greater financial flexibility and stability for its transformation.
- Level 3 replaced all existing term loans with a new $2.4 billion term loan maturing in 2032, priced at Term SOFR + 4.25%.
- The refinancing provides a 30-month maturity extension and reduces interest rates by 231 basis points, saving over $55 million annually.
- Chris Stansbury, Executive Vice President and Chief Financial Officer for Lumen, stated that this refinancing strengthens the company's financial position and supports long-term growth.
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Napa Valley Register+17 Reposted by 17 other sources
Lumen Announces a Refinancing of its Term Loans under the Level 3 Financing, Inc. Credit Agreement
DENVER, March 27, 2025 /PRNewswire/ -- 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…
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