Uniti Group Inc. Announces $250 Million Fiber Notes Offering
Uniti Group Inc. Announces Significant Fiber Notes Offering
Brings Uniti's Total ABS Program Issuance to $839 Million
Uniti Group Inc. has made waves in the financial markets by announcing a substantial offering of $250 million secured fiber network revenue term notes. This initiative, which plays a crucial role in Uniti's strategy to enhance its network capabilities, marks a notable expansion of the company's asset-backed securities (ABS) program, now totaling $839 million.
Details of the Offering
The offering, which is being executed through Uniti Fiber ABS Issuer LLC and Uniti Fiber TRS Issuer LLC, comprises a total amount of $250 million. This includes $180 million in 5.177% Series 2025-2, Class A-2 term notes, $28.2 million in 5.621% Series 2025-2, Class B term notes, and $41.8 million in 7.834% Series 2025-2, Class C term notes. Each class of these notes has an anticipated repayment date set for January 2031 and collectively boasts a weighted average coupon rate of approximately 5.671%.
Use of Proceeds
Uniti has outlined that the net proceeds from this offering will be intended for general corporate purposes. This may include critical capital expenditures that are performance-based or the repayment of existing debts. Such strategic moves underscore Uniti's commitment to maintaining financial flexibility and operational efficiency as it continues to grow.
Expected Closure and Funding Facilities
The offering is projected to close on a specified date in October. Furthermore, as part of this financial maneuver, the Issuers are anticipated to establish a commitment for a variable funding note facility amounting to $75 million, which includes a delayed draw feature. This facility is designed to provide additional capital as needed, subject to standard leverage tests and drawing conditions.
Uniti's Commitment to Connectivity
Uniti is recognized as a leading fiber provider, dedicated to facilitating essential connectivity throughout the digital landscape of the United States. The company specializes in building and operating high-speed communication networks that serve a diverse customer base, including consumers and businesses alike.
Company Overview and Services
Uniti's range of services is extensive, featuring numerous brands like Uniti Wholesale, Kinetic, Uniti Fiber, and Uniti Solutions. Through these offerings, Uniti enhances user experiences by providing robust, reliable communication services that are indispensable in today's digital economy.
Investors and Media Contacts
For inquiries related to investments, contact Paul Bullington at 251-662-1512, or Bill DiTullio at 501-850-0872, who are both key figures in Uniti's investor relations team. Media inquiries can be directed to Scott L. Morris at 501-580-4759 or Brandi Stafford at 501-351-0067, who manage communications and external relations.
Frequently Asked Questions
What is the total amount of the fiber notes offering?
The total fiber notes offering amounts to $250 million.
When is the expected closure date for the offering?
The offering is poised to close in October.
What will the proceeds from the offering be used for?
The proceeds are primarily intended for general corporate purposes, including capital expenditures and debt repayment.
What does Uniti Group Inc. specialize in?
Uniti Group Inc. specializes in providing high-speed fiber communications services across the United States.
Who can be contacted for investor inquiries?<\/h3>
Investor inquiries can be directed to Paul Bullington or Bill DiTullio at their respective contact numbers.
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