News

Lumen Technologies Extends Debt Maturities, Secures Additional Financing

1 Mins read

Lumen Technologies announced that it has successfully reached an agreement with a group of creditors to extend the maturity dates of its debt obligations. This development gives the struggling telecommunication company more time to implement its turnaround plan as it strives for financial stability.

As a result of this agreement, Lumen’s stock experienced a 5% surge in premarket trading, reaching $1.42.

This new agreement involves creditors who collectively hold more than $12.5 billion of Lumen’s outstanding debt, which accounts for over 70% of the company’s debt maturing through 2027. It surpasses a similar deal reached with creditors last year in terms of the size and scope of support across Lumen’s capital structure.

Under the terms of the agreement, debt maturities will primarily be extended to 2029 and beyond. In addition to this, Lumen will have access to $1.33 billion in new long-term debt and an expected $1 billion revolving credit facility.

Lumen anticipates that the completion of these transactions will occur during the first quarter of 2024.

Related posts
News

Risk mitigation

4 Mins read
Asian economies should cooperate to jointly lower their overreliance on dollar-denominated assets The economic and trade policies implemented by the current administration…
News

Cloud mining revolutionizes the way to increase the value of crypto assets: Ripplecoin Mining allows XRP, BTC, and Solana holders to achieve daily income | Business Upturn

3 Mins read
Weston, Massachusetts, July 16, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market continues to fluctuate, more and more investors are looking for…
News

Republicans declared it 'crypto' week in the House. It's not going as planned

1 Mins read
WASHINGTON (AP) — A trio of cryptocurrency bills that had been expected to pass the House this week stalled on Tuesday after…

Leave a Reply

Your email address will not be published. Required fields are marked *