DENVER, June 2, 2021 /PRNewswire/ -- Lumen
Technologies (NYSE: LUMN) announced that it has agreed to sell
$1.0 billion aggregate principal
amount of its unsecured 5.375% Senior Notes due 2029 (the "2029
Notes") pursuant to the private offering announced earlier
today.
The 2029 Notes were priced to investors at par and will mature
on June 15, 2029.
Lumen plans to use the net proceeds from the offering, together
with cash on hand, for general corporate purposes, including
reducing its indebtedness by repaying at maturity its outstanding
6.45% Senior Notes, Series S, due 2021. The offering is
expected to be completed on June 15,
2021, subject to the satisfaction or waiver of customary
closing conditions.
The 2029 Notes will not be registered under the Securities Act
of 1933, as amended (the "Securities Act"), or any state securities
laws in the United States and may
not be offered or sold in the United
States absent registration or an exemption from the
applicable registration requirements. Accordingly, the 2029 Notes
are being offered and sold only to persons reasonably believed to
be qualified institutional buyers in accordance with Rule 144A
promulgated under the Securities Act and to non-U.S. persons
outside the United States in
accordance with Regulation S promulgated under the Securities
Act. The 2029 Notes will not have registration rights.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, the 2029 Notes, nor will there be
any sale of the 2029 Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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.
Lumen and Lumen Technologies are registered United States trademarks of CenturyLink
Communications LLC (doing business as Lumen Technologies Group),
which is a wholly-owned subsidiary of Lumen Technologies, Inc.
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, our failure to satisfy the conditions to the
initial purchasers' obligation to consummate the offering;
corporate developments that could preclude, impair or delay the
above-described transactions due to restrictions under the federal
securities laws; changes in our credit ratings; changes in our cash
requirements, financial position, financing plans or investment
plans; changes in general market, economic, tax, regulatory or
industry conditions that impact our ability or willingness to
consummate the above-described transactions on the terms described
above or at all; and other risks referenced from time to time in
our filings with the Securities and Exchange Commission ("SEC").
For all the reasons set forth above and in our SEC filings, you are
cautioned not to unduly rely upon our forward-looking statements,
which speak only as of the date made. 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. Furthermore, any
information about our intentions contained in any of our
forward-looking statements reflects our 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 our assumptions as of such
date. We may change our intentions, strategies or plans (including
our plans expressed herein) without notice at any time and for any
reason.
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SOURCE Lumen Technologies