DENVER, Oct. 3, 2022
/PRNewswire/ -- Lumen Technologies, Inc. (NYSE: LUMN) (the
"Company" or "Lumen") announced today the acceptance and initial
settlement of its and its indirect, wholly-owned subsidiaries'
previously-announced cash tender offers (the "Tender Offers"),
relating to any and all of (i) Lumen's 6.750% Senior Notes, Series
W, due 2023, 7.500% Senior Notes, Series Y, due 2024, 5.625% Senior
Notes, Series X, due 2025, 7.200% Senior Notes, Series D, due 2025,
5.125% Senior Notes due 2026, 6.875% Debentures, Series G, due 2028
and 5.375% Senior Notes due 2029; (ii) Embarq Florida, Inc.'s
7.125% Senior Notes due 2023 and 8.375% Senior Notes due 2025; and
(iii) Qwest Capital Funding, Inc.'s 6.875% Senior Notes due 2028
and 7.750% Senior Notes due 2031 (collectively, the "Notes").
The Offerors purchased all the Notes validly tendered and not
validly withdrawn at or prior to the Expiration Time for
approximately $2,867,396,918 in cash,
plus Accrued Interest. The aggregate principal amount of the Notes
purchased on October 3, 2022 was
approximately $3,030,688,000. On the
Guaranteed Delivery Settlement Date, October
5, 2022, Lumen expects to purchase up to an additional
$40,673,000 aggregate principal
amount of the Notes for approximately $36,677,133 in cash, plus Accrued Interest.
The Tender Offers were only made pursuant to the Offer to
Purchase (the "Offer to Purchase"), including Notice of Guaranteed
Delivery, dated September 26, 2022.
Capitalized terms used in this release but not otherwise defined
have the meaning given in the Offer to Purchase. This press release
is neither an offer to purchase nor a solicitation of an offer to
sell any Notes in the Tender Offers.
About Lumen
Lumen Technologies, Inc. (NYSE: LUMN) is guided by our belief
that humanity is at its best when technology advances the way we
live and work. With approximately 400,000 route fiber miles and
serving customers in more than 60 countries, we deliver the
fastest, most secure platform for applications and data to help
businesses, government and communities deliver amazing
experiences.
Lumen and Lumen Technologies are registered trademarks of Lumen
Technologies LLC in the United
States. Lumen Technologies LLC is a wholly-owned affiliate
of Lumen Technologies, Inc.
Forward Looking Statements
Except for historical and factual information, the matters set
forth in this release and other of Lumen's oral or written
statements identified by words such as "estimates," "expects,"
"anticipates," "believes," "plans," "intends," and similar
expressions are forward-looking statements. These forward-looking
statements are not guarantees of future results and are based on
current expectations only, are inherently speculative, and are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond Lumen's control. Actual events and results may
differ materially from those anticipated, estimated, projected or
implied by Lumen in those statements if one or more of these risks
or uncertainties materialize, or if underlying assumptions prove
incorrect. Lumen undertakes no obligation to publicly update or
revise any forward-looking statements for any reason, whether as a
result of new information, future events or developments, changed
circumstances, or otherwise. Furthermore, any information about the
applicable Offeror's intentions contained in any forward-looking
statements reflects such Offeror's intentions as of the date of
such forward-looking statement, and is based upon, among other
things, existing regulatory, technological, industry, competitive,
economic and market conditions, and their assumptions as of such
date. Lumen may change its intentions, strategies or plans
(including the plans expressed herein) without notice at any time
and for any reason.
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SOURCE Lumen Technologies, Inc.