Lumen Technologies Inc.'s wholly-owned subsidiary, Level 3 Financing, Inc., is set to offer $1.25 billion in First Lien Notes due 2034. The proceeds from this offering, along with existing cash, will be used to partially redeem $1.075 billion of its 11.000% First Lien Notes due 2029. This move aims to manage its existing debt obligations more effectively by covering the redemption premium and associated fees and expenses.
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