Uniti to redeem all 7 7/8% notes due 2025 from upsized offer

By Mary-Katherine Stinson

Lexington, Ky., Feb. 2 – Uniti Group, Inc. will use a portion of the proceeds from an upsized offer of new notes to 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 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 $2.6 billion.

The company priced $2.6 billion of senior secured notes due 2025 on Thursday.

Due to an $850 million upsize, all of the notes are being redeemed instead of the partial redemption contemplated earlier in the day.

The remaining proceeds will be used to repay borrowings under the company’s revolver.

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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