Lumen Technologies, Inc., a leading global provider of integrated network solutions, has embarked on a significant endeavor aimed at streamlining its operations and facilitating strategic transactions. On March 8, 2024, the company initiated a consent solicitation process to amend specific indentures of the company and its subsidiaries. These amendments are pivotal in paving the way for the seamless execution of transactions outlined in the previously disclosed amended and restated transaction support agreement (TSA).
In conjunction with this initiative, Lumen Technologies is also seeking the cooperation of lenders under its existing term loans to partake in certain transactions pertaining to the company's credit agreements. The company anticipates concluding these TSA transactions by the end of the month, subject to the fulfillment of remaining closing conditions.
It is imperative to note that this solicitation is solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy any security. The details of the consent solicitation are meticulously laid out in the Consent Solicitation Statement dated March 8, 2024, along with related materials. Lumen Technologies has taken careful consideration to ensure compliance with jurisdictional laws, refraining from soliciting consent from note holders in jurisdictions where such actions may not be in accordance with local regulations.
In jurisdictions where securities laws necessitate the involvement of licensed brokers or dealers in the consent solicitation process, Lumen Technologies ensures adherence to these regulations by authorizing solicitation agents or registered brokers/dealers licensed under the respective jurisdiction's laws.
Holders of the notes are strongly encouraged to thoroughly review the Consent Solicitation Statement to familiarize themselves with the intricate terms of the solicitation and the procedures for consenting to the proposed amendments.
In this complex undertaking, Lumen Technologies has enlisted the expertise of reputable firms to navigate through legal and financial intricacies. Guggenheim Securities, LLC, has been appointed as the financial advisor, while Wachtell, Lipton, Rosen & Katz, stands as the legal advisor to the company in connection with the TSA.
The company prides itself on its mission to connect the world and foster human progress through technology. With a steadfast commitment to facilitating seamless connectivity of people, data, and applications, Lumen leverages its robust network infrastructure to meet the evolving needs of its customers. From metropolitan connectivity to long-haul data transport and comprehensive cloud and security solutions, Lumen Technologies remains dedicated to empowering its customers today and in the future.
The company’s commencement of the consent solicitation process marks a significant step towards realizing its strategic objectives outlined in the amended transaction support agreement, underscoring their commitment to innovation and progress in the digital realm.
