NYSE:LUMNTelecom
What Lumen Technologies (LUMN)'s Debt Refinance and Consumer Exit Means For Shareholders
Lumen Technologies, through its Level 3 Financing subsidiary, recently upsized and completed offerings of 8.500% Senior Notes due 2036 to about US$1.25 billion, using proceeds to repurchase existing second lien notes and support general corporate purposes as it continues shifting away from consumer services.
These moves, alongside the sale of its remaining consumer fiber network to AT&T and a stronger-than-expected Q3, underline a major reorientation toward enterprise-focused connectivity...