DENVER - Lumen Technologies, Inc. (NYSE: LUMN), a global network solutions provider, has initiated a consent solicitation process to amend certain indentures and credit agreements, paving the way for the completion of its transaction support agreement (TSA) transactions, which are expected to close by the end of the month. The amendments are subject to the satisfaction of the remaining closing conditions.
On Friday, the company began seeking consent from its lenders under existing term loans to partake in specific transactions related to the company's credit agreements. This step is crucial for the completion of the TSA transactions, which were previously announced and amended.
The consent solicitation is being conducted in accordance with the Consent Solicitation Statement dated March 8, 2024, and other related materials. It is important to note that the solicitation is not being made to note holders in any jurisdiction where it would not comply with local laws. In jurisdictions requiring a licensed broker or dealer for such solicitations, it will be deemed to be made by the solicitation agents or registered brokers or dealers licensed under the laws of that jurisdiction.
Guggenheim Securities, LLC is acting as the financial advisor, and Wachtell, Lipton, Rosen & Katz as the legal advisor to Lumen Technologies in relation to the TSA.
Lumen Technologies leverages its network capabilities, including metro connectivity, long-haul data transport, edge cloud, security, and managed services to meet customer needs.
This article is based on a press release statement.
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