CTDD QWEST CORP

NEUTRAL Impact: 3/10 425
Horizon days Filed May 5, 2026 Processed 1mo ago SEC 0001193125-26-205268
Rule 425 M&A communications
Latest settled — T+5d ⚠ clustered
CTDD ▲ +3.55% at T+5d
NEUTRAL call ✓ call won +3.55% · α vs SPY +1.56% · entry $18.88 → $19.55
Next anchor: T+20d due 12d ago
Latest observation: T+13 +4.07% FF3 residual α
Entry anchored
May 4, 01:43 PM ET
via Databento tick
T+1d
+2.01%
call +2.01% · α +0.63%
$19.26
settled 6w ago
T+5d
+3.55%
call +3.55% · α +1.56%
$19.55
settled 5w ago
T+20d
call — · α —
due 12d ago
T+60d
call — · α —
in 6w

Price Chart

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Executive Summary

Lumen Technologies and its subsidiary Qwest Corporation extended the early participation date and withdrawal deadline for their exchange offers of Qwest's 6.5% Notes due 2056 and 6.75% Notes due 2057 from May 8 to May 15, 2026, with the overall expiration remaining May 26, 2026. This is a routine procedural extension with no changes to the terms of the exchange offers or consent solicitations, indicating the company is seeking more time to attract holders to tender their notes.

Actionable Insight

Monitor the May 15 early participation deadline for tender results — low participation could signal bondholder resistance and may pressure Lumen's credit spreads. The unchanged terms suggest no urgency to sweeten the deal, but a further extension would be a negative signal.

Key Facts

  • Early participation date and withdrawal deadline extended from May 8, 2026 to May 15, 2026
  • Exchange offers expire on May 26, 2026
  • All other terms of the exchange offers and consent solicitations remain unchanged
  • Exchange offers involve 6.5% Notes due 2056 and 6.75% Notes due 2057 issued by Qwest Corporation
  • New notes will be fully and unconditionally guaranteed on an unsecured basis by Lumen Technologies

Financial Impact

No financial figures disclosed; extension of timeline only

Risk Factors

  • Low participation in exchange offers could indicate bondholder dissatisfaction
  • Further extensions may signal difficulty in completing the exchange
  • Registration Statement effectiveness and absence of legal impediments are conditions to closing

Market Snapshot

Exchange
NYSE
Sector
Telephone Communications (No Radiotelephone)

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

DocumentAccession Number
425 Filing (Primary)0001193125-26-205268
Document: 0001193125-26-205268-index-headers.html0001193125-26-205268
Document: 0001193125-26-205268-index.html0001193125-26-205268
Document: 0001193125-26-205268.txt0001193125-26-205268
7 reports for CTDD
Performance horizon
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Reports for CTDD — sortable, filterable
Type Now
May 20, 2026
25d ago
8-K
NEUTRAL ★ 4/10
$19.55 $19.55· 0.00%▼ −0.45%
May 12, 2026
4w ago
425
NEUTRAL ★ 3/10
$19.55 $19.55· 0.00%▼ −0.58%
May 12, 2026
4w ago
8-K
NEUTRAL ★ 2/10
$19.55 $19.55· 0.00%▼ −0.58%
May 5, 2026
5w ago
425
NEUTRAL ★ 3/10
$18.88 $19.26▲ +2.01%▲ +0.63%
May 5, 2026
5w ago
8-K
NEUTRAL ★ 2/10
$18.88 $19.26▲ +2.01%▲ +0.63%
Apr 21, 2026
7w ago
EFFECT
NEUTRAL ★ 4/10
$17.93 $18.97▲ +5.80%▲ +4.78%
Apr 20, 2026
7w ago
8-K
NEUTRAL ★ 4/10
$19.27 $17.93▼ −6.95%▼ −6.30%
Showing 7 of 7

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