Lumen in deal with lenders to extend debt maturities, raise over $2 billion in capital

(Reuters) – Lumen Technologies said on Thursday it has signed a deal with a group of lenders that will push out its debt maturities to 2029 and beyond and provide it with access to more than $2 billion of fresh capital.

The agreement is with creditors that represent more than $12.5 billion of the debt of Lumen and its subsidiaries, the company said, adding the deal was supported by a “significantly larger” group of creditors than its previous deal in October.

The deal will provide Lumen with $1.325 billion of financing through new long-term debt and provide access to a new revolving loan of about $1 billion.

(Reporting by Harshita Mary Varghese; Editing by Shweta Agarwal)