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0.000944042831093908 -0.000349166526568977 -0.000995771205400419 0.000297438152262466 -0.00422879459955763 -0.00342700479780666 -0.00487539927838919 -0.00681521331488351
Stock impact report

Lumen (LUMN) Tumbles 5% on Investor Caution Over Early Notes Redemption [Yahoo! Finance]

Lumen Technologies, Inc. (LUMN) 
Company Research Source: Yahoo! Finance
Lumen Technologies ended two straight days of gains on Monday, slashing 5.13 percent to close at $7.77 apiece as investors turned cautious after the company announced a plan to buy back some of its debt early. According to Lumen Technologies, Inc. (NYSE:LUMN), it would redeem early all its notes due 2029, 2030, and 2031. While the offer stands to benefit the bondholders, the initiative raised caution among shareholders over the possibility of Lumen Technologies, Inc. (NYSE:LUMN) burning more cash and issuing new notes to implement the initiative. The early redemption followed Lumen Technologies, Inc.'s (NYSE:LUMN) plan earlier this month to raise $1.25 billion in fresh funds from the issuance of senior notes due 2036. The notes, which were $500 million more than the initial plan, carry a yield rate of 8.5 percent, proceeds of which will be used to fund the buyback of the 2029, 2030, and 2031 notes. The 2036 notes were priced to investors at a price of 100 percent of their a Show less Read more
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