Lumen Technologies completed repricing transaction of Level 3 Financing’s $2.4 billion credit facilities at Term SOFR + 3.25%.
- New pricing represents a reduction of 100 basis points, resulting in $24 million in annual interest expense savings
- Also closed on added $425m first lien notes due 2034 to redeem all $373 million Level 3’s 10.750% First Lien Notes due 2030
- Transactions provide greater financial freedom to accelerate investment in digital networking services for AI economy
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