Uniti ‘comfortable’ with leverage; most debt has a fixed-rate coupon

By Devika Patel

Knoxville, Tenn., Sept. 21 – Uniti Group Inc. has most of its debt accruing interest at a fixed-rate, and management is happy with the company’s leverage ratio.

“We did a lot of work to push out maturities, to lower our cost of capital and we had a really good outcome there,” senior vice president, treasurer and chief financial officer Paul Bullington said at the Deutsche Bank 30th Annual Leveraged Finance Conference in Scottsdale, Ariz., on Tuesday.

“We did that, I think, very well and so most of our debt is fixed debt,” he said.

Management is comfortable with the company’s leverage ratio.

“We’re comfortable where we are, in that 5x to 5.5x [leverage] ratio, so we’re good there and we continue to operate there,” Bullington said.

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

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