Lumen and Qwest complete exchange offers for senior notes due 2056-2057

Lumen Technologies and subsidiary Qwest Corporation completed exchange offers converting $977.5M of 6.5% notes due 2056 and $660M of 6.75% notes due 2057 into new notes due 2051-2052 with consent solicitation fees. The transaction reduces long-term debt maturity risk by shifting obligations to earlier dates.