Exhibit 99.1
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Lumen Technologies Completes Redemption and Amends Qwest Credit Agreement
DENVER, Oct. 26, 2020 – Lumen Technologies* (NYSE: LUMN) announced today that Qwest Corporation, its indirect wholly-owned subsidiary (“Qwest”), completed the following debt transactions.
On Oct. 23, 2020, Qwest extended and amended its 2015 term loan with CoBank ACB. As amended, the maturity date of the term loan was extended from Feb. 20, 2025 to Oct. 23, 2027. The amendments also increased the amount of the term loan from $100 million to $215 million, added LIBOR transition language, and revised certain of the covenants to conform them to those contained in other of Lumen’s consolidated debt instruments.
On Oct. 26, 2020, Qwest completed its previously announced redemption of the remaining $160 million principal amount of its 6.625% Notes due 2055 at par plus accrued and unpaid interest to, but excluding, the redemption date. Additional information regarding this redemption is available from U.S. Bank National Association.
About Lumen
Lumen is guided by our belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, we deliver the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.
Learn more about the Lumen network, edge cloud, security, communication and collaboration solutions and our purpose to further human progress through technology at news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies. Lumen and Lumen Technologies are registered trademarks of Lumen Technologies LLC in the United States. Lumen Technologies LLC is a wholly-owned affiliate of CenturyLink Inc.
* The Lumen brand was launched on Sept. 14, 2020. As a result, CenturyLink Inc. is referred to as Lumen Technologies, or simply Lumen. The legal name CenturyLink Inc. is expected to be formally changed to Lumen Technologies, Inc. upon satisfying all applicable legal requirements.
