Uniti to redeem some 7 7/8% notes due 2025 with proceeds of new notes

By Mary-Katherine Stinson

Lexington, Ky., Feb. 2 – Uniti Group, Inc. will use a portion of the proceeds from a new issue of notes to partially redeem its 7 7/8% senior secured notes due February 2025, according to a press release.

The Little Rock, Ark.-based company plans to redeem $1.422 billion principal amount of the notes on March 4 at 101.969.

Accrued interest will also be paid.

The redemption is conditioned upon the group’s completion of one or more debt financings totaling at least $1.75 billion.

Uniti Group is an internally managed real estate investment trust engaged in the acquisition and construction of mission critical communications infrastructure.

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