Quick ValueDatabase

Lumen Technologies

Ticker
$LUMN
Industry
Telecom
Type
Beaten UpDelever
Rating
Not Rated
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Lumen is the former CenturyLink / Level 3 Communications combination.

Notes

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Selling assets — $7.5bn in ILEC business to Apollo at 5.5x EBITDA & $2.7bn LATAM assets at 9x EBITDA
Lumen-2Q21-Transactions-Presentation.pdf422.8KB
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Merger with Level 3 Communications — In October 2016, CenturyLink and Level 3 announced meger
  • Pro-forma — $26bn revenue and $11bn EBITDA
  • Tranxaction valued at $34bn — 42% premium to Level 3 share price (CenturyLink gave up stock valued at $28/share vs. today’s price at less than $11)
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4Q21 results — BofA comments following results in Feb 2022 — in short: the dividend coverage looks weak and may be at risk for a cut
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