Uniti closes credit agreement waiver, amendment and repays some debt

By Wendy Van Sickle

Columbus, Ohio, Feb. 10 – Uniti Group Inc. closed a previously announced amendment and waiver with the lenders under its senior secured credit facilities on Monday in connection with the closing of the company’s offering of $2.25 billion of 7 7/8% senior secured notes due 2025, according to a news release.

The amendment and waiver waives any potential default that would arise if Uniti’s financial statements for 2019 include a “going concern” statement.

The amendment and waiver became effective upon closing of the notes offering and the related repayment of borrowings and termination of some revolving commitments.

Specifically, Uniti used proceeds from the notes to repay all $2.05 billion of outstanding borrowings under its term loan facility and $156.7 million of outstanding borrowings under its revolver.

The real estate investment trust focused on communications infrastructure is based in Little Rock, Ark.

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