DENVER, Oct. 26, 2020 /PRNewswire/ -- Lumen
Technologies* (NYSE: LUMN) announced today that Qwest Corporation,
its indirect wholly-owned subsidiary ("Qwest"), completed the
following debt transactions.
On Oct. 23, 2020, Qwest extended
and amended its 2015 term loan with CoBank ACB. As amended, the
maturity date of the term loan was extended from Feb. 20, 2025 to Oct. 23,
2027. The amendments also increased the amount of the term
loan from $100 million to
$215 million, added LIBOR transition
language, and revised certain of the covenants to conform them to
those contained in other of Lumen's consolidated debt
instruments.
On Oct. 26, 2020, Qwest completed
its previously announced redemption of the remaining $160 million principal amount of its 6.625% Notes
due 2055 at par plus accrued and unpaid interest to, but excluding,
the redemption date. Additional information regarding this
redemption is available from U.S. Bank National Association.
About Lumen
Lumen is guided by our belief that humanity is at its best when
technology advances the way we live and work. With approximately
450,000 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.
Learn more about the Lumen network, edge cloud, security,
communication and collaboration solutions and our purpose to
further human progress through technology at news.lumen.com,
LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook:
/lumentechnologies, Instagram: @lumentechnologies and YouTube:
/lumentechnologies. Lumen and Lumen Technologies are registered
trademarks of Lumen Technologies LLC in the United States. Lumen Technologies LLC is a
wholly-owned affiliate of CenturyLink Inc.
* The Lumen brand was launched on Sept. 14, 2020. As a result, CenturyLink Inc. is
referred to as Lumen Technologies, or simply Lumen. The legal name
CenturyLink Inc. is expected to be formally changed to Lumen
Technologies, Inc. upon satisfying all applicable legal
requirements.
Forward-Looking Statements
Except for historical and factual information, the matters
set forth in this release and other of our 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 our control. Actual events and results may
differ materially from those anticipated, estimated, projected or
implied by us in those statements if one or more of these risks or
uncertainties materialize, or if underlying assumptions prove
incorrect. Factors that could affect actual results include but are
not limited to those referenced from time to time in Lumen
Technologies or Qwest's filings with the Securities and Exchange
Commission. We undertake 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. We may change our intentions,
strategies or plans without notice at any time and for any
reason.
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SOURCE Lumen Technologies
