Lumen Technologies Inc. debt rallied alongside a meteoric rise in the company’s stock after it announced higher demand for its services as a result of the artificial intelligence boom.
The telecommunications company’s 4% bond maturing in 2027 rose 7.5 points on Tuesday to 72 cents on the dollar, according to Trace bond trading data. Notes tied to its Level 3 unit due 2028 jumped 10.5 points to 67.5 cents on the dollar the same day.
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