Uniti to redeem 7 1/8% senior notes due 2024 with new note proceeds

By Rebecca Melvin

Concord, N.H., Sept. 28 – Uniti Group Inc. intends to redeem in full its outstanding 7 1/8% senior notes due 2024 using proceeds from an offering of $700 million of new senior notes due 2030, according to a press release.

The company is buying the notes back at 101.781 plus accrued interest up to but excluding the Dec. 15 redemption date.

Any remaining proceeds of the new notes will be used to prepay settlement obligations under a settlement agreement the company entered into with Windstream Holdings Inc. in connection with Windstream’s emergence from bankruptcy.

Uniti is a real estate investment trust based in Little Rock, Ark.

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