Cahill Represents Agent and Lenders in Lumen Technologies Recapitalization Transaction
Date: 03/22/24
Cahill represented the administrative agent, the collateral agent, the Dutch auction manager and a group of revolving credit and term “A” loan lenders in connection with Lumen Technologies, Inc.’s recent debt recapitalization transaction. The liability management transaction involved participation of over $15 billion of outstanding indebtedness and commitments of Lumen and its subsidiaries and included, among other things: (i) a new superpriority revolving credit facility of approximately $1 billion for Lumen Technologies, (ii) the exchange of certain existing Lumen Technologies term loans into new superpriority term loans, (iii) the extension of certain debt maturities and (iv) amendments to the existing Lumen Technologies credit documents.
Lumen is a facilities-based technology and communications company that provides a broad array of integrated products and services to domestic and global business customers and domestic mass markets customers and provides one of the world’s most interconnected networks.