debt
confidence high
sentiment positive
materiality 0.75
Uniti issues $1.4B 7.5% Senior Secured Notes due 2033 and obtains $1B term loan to refinance debt
Uniti Group Inc.
- Issued $1.4B of 7.500% Senior Secured Notes due 2033 at par; proceeds used to redeem all outstanding 10.50% Senior Secured Notes due 2028.
- Entered into $1.0B New Term Loan facility (floating SOFR+4% / Base+3%) and extended revolver maturities to Dec 30, 2027.
- Announced $250M ABS Notes offering secured by fiber assets in six states, plus $75M variable funding facility; proceeds for capex or debt repayment.
- Refinancing reduces interest cost from 10.5% to 7.5% and extends maturities, improving debt profile.