Lumen Technologies pursues bank lenders support for debt deal - WSJ

(Reuters) - Lumen Technologies is in talks with its bank lenders to gain support for a debt deal that would push out the company's maturities on billions of dollars in debt and raise fresh capital, the Wall Street Journal reported on Monday.

The telecommunications company late last year reached a debt restructuring deal with a group of creditors, which hold more than $7 billion of the company's debt, to receive an extension on its debt maturities.

The creditors also provided a commitment for an additional $1.2 billion of financing through long-term debt.

However, the lenders for its revolving credit line, led by Bank of America, were not part of the talks that led to the restructuring deal, the WSJ report said, citing people familiar with the matter.

The signoff from its revolver lenders is likely the last hurdle before the completion of the debt restructuring, it added.

Lumen did not immediately respond to a Reuters request for comment.

Its long-term debt at the end of the third quarter was $19.74 billion, the company said in its earnings report.

(Reporting by Harshita Mary Varghese; Editing by Shweta Agarwal)