Lumen Technologies Inc. is offering to conduct a debt exchange in what one analyst sees as management’s attempt to “fight it out” amid growing doubts about the telecommunications company’s ability to turn around its business while dealing with a heavy debt load.

Lumen LUMN said in a morning press release that Level 3 Financing, a company subsidiary, has commenced offers to issue senior secured notes in exchange for senior unsecured notes of Lumen.



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