10:50 AM EST, 11/26/2024 (MT Newswires) -- Lumen Technologies ( LUMN ) said Tuesday it expects to redeem about $275.3 million of the $488.1 million of its 4.25% senior notes due 2028 issued by its Level 3 Financing unit that were tendered and not withdrawn by noteholders by Monday's 5 pm ET deadline.

In addition to redeeming about 56.4% of the Level 3 notes outstanding, the networking equipment company said it will accept and redeem about $24.1 million, or roughly 14.9%, of the $161.8 million of Lumen's 6.875% series G debentures maturing in 2028 that were tendered by investors.

Under terms of the respective tender offers, investors will receive $890 in cash for each $1,000 in principal amount of the Level 3 notes and $947.50 for each $1,000 of the Lumen debentures tendered. The tender offering is slated to close later Tuesday.

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