Tier 3 Funding Completes Sale of Senior Sustainability Notes

Tier 3 Funding Completes Sale of Senior Sustainability Notes

DENVER, Jan. 13, 2021 / PRNewswire / – Lumen Technologies * (NYSE: LUMN) announced that its wholly owned subsidiary, Level 3 Financing Inc. (“Level 3 Financing”), has completed its previously $ 900 million private offering announced the total principal amount of its 3.750% sustainable development-linked senior unsecured notes due 2029 (the “Sustainable Development Notes”). Sustainability ratings are aligned with Lumen’s science-based emission reduction targets and its commitment to environmental, social and governance (ESG) initiatives.

Level 3 Financing intends to use the net proceeds of the offering, together with cash on hand, to redeem all of the aggregate principal amount of $ 900 million of Level 3 Financing’s 5.375% Senior Notes due 2024 ( the “2024 Notes”) under the conditions described below.

The Sustainability Notes are unsubordinated and unsecured obligations of Level 3 Financing and are guaranteed on an unsecured basis by Level 3 Financing’s direct parent, Level 3 Parent LLC. The…

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