Uniti Group Inc. Announces Pricing of Senior Secured Notes Offering

LITTLE ROCK, Ark., May 06, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (the “Company,” “Uniti,” or “we”) (Nasdaq: UNIT) today announced that its subsidiaries, Uniti Group LP, Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC (together, the “issuers”), have priced their offering of $300 million aggregate principal amount of 10.50% Senior Secured Notes due 2028 (the “notes”). The notes will be issued at an issue price of 103.00%. The notes will be guaranteed on a senior unsecured basis by the Company and on a senior secured basis by each of its subsidiaries (other than the issuers) that guarantees indebtedness under the Company’s senior secured credit facility and the Company’s existing secured notes (except initially those subsidiaries that require regulatory approval prior to guaranteeing the notes (such entities, the “regulated subsidiaries”)). The notes and the subsidiary guarantees will be secured by first-priority liens on substantially all of the assets of the issuers and the subsidiary guarantors (other than certain excluded assets), which liens also ratably secure the Company’s senior secured credit facility and existing secured notes. The offering is expected to close on May 17, 2024.

Within 60 days of the issuance of the notes, the Company will file to obtain regulatory approval to enable the regulated subsidiaries to guarantee the notes, and it will use commercially reasonable efforts to obtain such approval. Upon the guarantee of the notes by each of the regulated subsidiaries that guarantee the Company’s existing 10.50% Senior Secured Notes due 2028, the notes are expected to be mandatorily exchanged for 10.50% Senior Secured Notes due 2028 issued as “additional notes” under the indenture dated as of February 14, 2023 among Uniti, Uniti Group Finance, Uniti Fiber Holdings, CSL Capital, the guarantors party thereto and the trustee and collateral agent party thereto (the “2023 Indenture”). Such additional notes are expected to be part of the same series as the existing 10.50% Senior Secured Notes due 2028 issued under the 2023 Indenture, and are expected to have the same CUSIP number as, and be fungible with, the existing 10.50% Senior Secured Notes due 2028 issued under the 2023 Indenture.