Lumen CFO Says Firm Will Focus on Stabilizing After Debt Deal
- Capital structure no longer restrains firm, CFO says
- Restructuring slashes debt, gives company new revolver
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Lumen Technologies Inc. plans to focus on stabilizing its business after finalizing a restructuring deal with creditors that slashes its debt, its finance chief said.
The agreement, released Friday, reduces the telecommunications firm’s debt due in 2025 and 2026 by around $1.5 billion, and cuts its obligations due in 2027 by over $8.5 billion.