Lumen Technologies last month announced the successful completion of a repricing transaction of Level 3 Financing, Inc.’s (“Level 3”) $2.4 billion credit facilities at Term SOFR + 3.25%. The new pricing represents a reduction of 100 basis points, resulting in $24 million in annual interest expense savings. Additionally, in connection with the refinancing transaction certain other modifications were made to the covenants in the Credit Agreement to provide additional flexibility to Level 3.
Chris Stansbury, Lumen's CFO, discusses the company's debt restructuring and path toward for growth, the sale of its residential-fiber unit to AT&T, and the current state of the telecom space. Chris speaks with Tim Stenovec, Emily Graffeo and Nina Trentmann on Bloomberg Businessweek Daily.

Lumen Technologies last month announced the successful completion of a repricing transaction of Level 3 Financing, Inc.&rsquo;s (&ldquo;Level 3&rdquo;) $2.4 billion credit facilities at Term SOFR + 3.25%. The new pricing represents a reduction of 100 basis points, resulting in $24 million in annual interest expense savings. Additionally, in connection with the refinancing transaction certain other modifications were made to the covenants in the Credit Agreement to provide additional flexibility to Level 3. Chris Stansbury, Lumen's CFO, discusses the company's debt restructuring and path toward for growth, the sale of its residential-fiber unit to AT&amp;T, and the current state of the telecom space. Chris speaks with Tim Stenovec, Emily Graffeo and Nina Trentmann on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Lumen Overhauls Debt Load With Eye on Growth

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f34f61f3-69d7-421a-9ee5-b3750158ee32/transcript

Advertisement