Telecom
Lumen Asks for More Time to Wrap Up Its Restructuring Deal
- Company is seeking to extend plan deadline to Jan. 31
- Lumen is negotiating with revolving credit line lenders
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Lumen Technologies Inc. is asking its creditors for more time to close its controversial restructuring deal as it continues negotiations, according to people with knowledge of the matter.
The struggling telecommunications firm wants to push the deadline to close the deal by one month to Jan. 31, said the people, who asked not to be identified because talks are private. Creditors who helped Lumen craft the proposal agreed to the extension, but the reprieve hasn’t been finalized, they said.