Lumen announces early results of tender offers

Lumen (LUMN) Technologies announced the early results of the previously announced cash tender offers pursuant to which Level 3 Financing, Lumen and Qwest Capital Funding are offering to purchase the outstanding notes, pursuant to, and on the terms and subject to the conditions set forth in, an Offer to Purchase, dated May 6. The notes offered to be purchased in the Tender Offers, listed in the order of priority, are Level 3 Financing’s outstanding 4.250% Senior Notes due 2028, 3.625% Senior Notes due 2029, 3.750% Sustainability-Linked Senior Notes due 2029, 3.875% Senior Secured Notes due 2029, 4.875% Second Lien Notes due 2029, 4.500% Second Lien Notes due 2030, 3.875% Second Lien Notes due 2030, and 4.000% Second Lien Notes due 2031, Lumen’s outstanding 6.875% Debentures, Series G, due 2028, 4.500% Senior Notes due 2029, and 5.375% Senior Notes due 2029, and QCF’s outstanding 6.875% Notes due 2028 up to an aggregate purchase price, excluding accrued and unpaid interest, of $750M. The Withdrawal Deadline has passed and the Existing Group Tender Notes tendered pursuant to the Tender Offers may no longer be withdrawn, except in the limited circumstances described in the Statement. As of 5:00 p.m. ET, on May 19, 2026, approximately $1,411.4M aggregate principal amount of Existing Group Tender Notes were validly tendered and not validly withdrawn, and approximately $765.9M have been accepted for purchase with Total Consideration up to the Aggregate Maximum Tender Cap. The settlement date for Existing Group Tender Notes validly tendered and not validly withdrawn on or prior to the Early Tender Deadline and accepted for purchase is expected to occur on May 21, 2026