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DENVER, Jan. 11, 2021 /PRNewswire/ — Lumen Technologies* (NYSE: LUMN) introduced that its wholly-owned subsidiary, Degree 3 Financing Inc. (“Degree 3 Financing”), plans to supply $900 million combination principal quantity of unsecured Sustainability-Linked Senior Notes (the “Sustainability-Linked Notes”) in its inaugural providing of notes with sustainability-linked options. The providing of the Sustainability-Linked Notes is aligned with Lumen’s science-based emission discount targets and its dedication to environmental, social and governance (ESG) initiatives.
Degree 3 Financing intends to make use of the online proceeds from the providing, along with money available, to redeem all $900 million combination principal quantity of Degree 3 Financing’s 5.375% Senior Notes due 2024.
Lumen, as a part of its ESG initiatives, has established science-based targets to cut back its annualized absolute market-based Scope 1 and Scope 2 greenhouse fuel (GHG) emissions by 18% and its annualized absolute upstream Scope 3 GHG emissions by 10% by 2025, with 2018 because the baseline 12 months for measurement. Lumen plans to proceed to report its progress in direction of its ESG objectives in its annual ESG experiences.
The Sustainability-Linked Notes is not going to be registered underneath the Securities Act of 1933 (the “Securities Act”) or any state securities legal guidelines in the USA and will not be provided or bought in the USA absent registration or an exemption from the relevant registration necessities. Accordingly, the Sustainability-Linked Notes are being provided and bought solely to individuals moderately believed to be certified institutional patrons in accordance with Rule 144A promulgated underneath the Securities Act and to non-U.S. individuals outdoors the USA in accordance with Regulation S promulgated underneath the Securities Act. The Sustainability-Linked Notes is not going to have registration rights.
This press launch doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, the Sustainability-Linked Notes, nor will there be any sale of the Sustainability-Linked Notes in any jurisdiction by which such provide, solicitation or sale could be illegal. This press launch doesn’t represent a discover of redemption with respect to any of Degree 3 Financing’s excellent senior notes.
About Lumen
Lumen is guided by our perception that humanity is at its greatest when expertise advances the way in which we dwell and work. With roughly 450,000 route fiber miles and serving clients in additional than 60 international locations, we ship the quickest, most safe platform for purposes and knowledge to assist companies, authorities and communities ship wonderful experiences.
Lumen and Lumen Applied sciences are registered emblems of Lumen Applied sciences LLC in the USA. Lumen Applied sciences LLC is a wholly-owned affiliate of CenturyLink Inc.
* The Lumen model was launched on Sept. 14, 2020. In consequence, CenturyLink, Inc. is known as Lumen Applied sciences, or just Lumen. The authorized identify CenturyLink, Inc. is anticipated to be formally modified to Lumen Applied sciences, Inc. on Jan. 22, 2021. Efficient as of Jan. 22, 2021, the CUSIP quantity for the corporate’s frequent inventory is scheduled to alter to 550241 103.
Ahead-Trying Statements
Aside from historic and factual data, the issues set forth on this launch and different of our oral or written statements recognized by phrases equivalent to “estimates,” “expects,” “anticipates,” “believes,” “plans,” “intends,” and related expressions are forward-looking statements. These forward-looking statements aren’t ensures of future outcomes and are based mostly on present expectations solely, are inherently speculative, and are topic to a lot of assumptions, dangers and uncertainties, lots of that are past our management. Precise occasions and outcomes could differ materially from these anticipated, estimated, projected or implied by us in these statements if a number of of those dangers or uncertainties materialize, or if underlying assumptions show incorrect. Elements that might have an effect on precise outcomes embody, however aren’t restricted to: the chance that potential debt traders is not going to be receptive to the providing on the phrases described above or in any respect; company developments that might preclude, impair or delay the above-described transactions as a result of restrictions underneath the federal securities legal guidelines; adjustments in Degree 3 Financing’s credit score rankings; adjustments within the money necessities, monetary place, financing plans or funding plans of Degree 3 Financing or its associates; adjustments basically market, financial, tax, regulatory or business situations that impression the flexibility or willingness of Degree 3 Financing or its associates to consummate the above-described transactions on the phrases described above or in any respect; and different dangers referenced now and again within the filings of Lumen Applied sciences or Degree 3 Dad or mum LLC with the Securities and Alternate Fee. We undertake no obligation to publicly replace or revise any forward-looking statements for any purpose, whether or not because of new data, future occasions or developments, modified circumstances, or in any other case. We could change our intentions, methods or plans (together with our plans expressed herein) with out discover at any time and for any purpose.
SOURCE Lumen Applied sciences
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