Uniti Group Inc.: debt financing — Uniti completes $589M fiber securitization; partially redeems $125M of 2028 notes

Uniti Group Inc.

Issued $589M aggregate principal of secured fiber network term notes (Class A-2 5.9%, B 6.4%, C 9.0%, weighted avg yield ~6.5%).
Notes secured by fiber assets in Florida and Gulf Coast; anticipated repayment date April 2030, legal maturity 2055.
Net proceeds used to repay existing ABS bridge facility and partially redeem $125M of 10.50% Senior Secured Notes due 2028 at 103% of principal.
Redemption of 2028 Notes set for Feb 14, 2025; $125M principal called.
CFO states transaction strengthens balance sheet and lowers cost of capital.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Uniti Group Inc. incurred senior notes of $589,000,000 aggregate principal amount with Wilmington Trust, National Association at 5.9% Series 2025-1, Class A-2 term notes, $65,000,000 6.4% Series 2025-1, Class maturing anticipated repayment date in April of 2030.

Instrument: senior notes
Principal: $589,000,000 aggregate principal amount
Counterparty: Wilmington Trust, National Association
Rate: 5.9% Series 2025-1, Class A-2 term notes, $65,000,000 6.4% Series 2025-1, Class
Maturity: anticipated repayment date in April of 2030
Event: incurrence

Exact text from the filing

On February 3, 2025, Uniti Fiber ABS Issuer LLC and Uniti Fiber TRS Issuer LLC (collectively, the “Issuers”), each an indirect, bankruptcy-remote subsidiary of Uniti Group Inc. (the “Company,” and, together with the Issuers, “we,” “us,” or ‘our”), completed a private offering of $589,000,000 aggregate principal amount of secured fiber network revenue term notes, consisting of $426,000,000 5.9% Series 2025-1, Class A-2 term notes, $65,000,000 6.4% Series 2025-1, Class B term notes and $98,000,000 9.0% Series 2025-1, Class C term notes (collectively, the “Notes”), each with an anticipated repayment date (“ARD”) in April of 2030.

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Source: SEC EDGAR

accession 0000950103-25-001423

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