2024-01-26 16:00:04 ET
Summary
- Lumen Technologies, Inc. could be getting 2027 debt maturities pushed out to 2029.
- The company could also get an additional $1 Billion in revolving credit from the new credit agreement.
- Not all items needed to be completed by Lumen to execute this extension have yet been satisfied, and the market may be reacting prematurely.
- I still believe Lumen Technologies has $5-$6 in asset value per share after subtracting current and long-term debt.
The market may be getting ahead of itself
This is my second article on Lumen Technologies, Inc. ( LUMN ), the first being titled "Lumen Technologies: Few Things Go To Zero." The premise of the article was based on a Howard Marks quote, with the matter being that many things get priced like they're heading into bankruptcy, but few things make it there....
Read the full article on Seeking Alpha
For further details see:
Lumen Technologies: Don't Get Too Excited Yet