Lumen Debt Restructuring Draws Ire From Left-Behind Creditors

(Bloomberg) — A proposed deal to restructure one of the largest piles of US distressed debt is drawing ire from creditors who have been left out of the transaction.

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Lumen Technologies Inc., a struggling telecommunications firm with nearly $20 billion of debt, cut the deal with a group of investment firms including Silver Point Capital, Pacific Investment Management Co., Diameter Capital Partners and Blackrock Inc., according to people with knowledge of the matter who…