Uniti Group Inc. announced that its limited-purpose subsidiaries, Uniti Fiber ABS Issuer LLC and Uniti Fiber TRS Issuer LLC, have priced an offering of $589,000,000 aggregate principal amount of secured fiber network revenue term notes. The offering includes $426,000,000 5.9% Series 2025-1, Class A-2 notes, $65,000,000 6.4% Series 2025-1, Class B notes, and $98,000,000 9.0% Series 2025-1, Class C notes.
These notes collectively carry a weighted average yield of approximately 6.5% and have an anticipated repayment date in April 2030. The offering is expected to close on February 3, 2025, subject to customary closing conditions.
The notes will be secured by specific fiber network assets and related customer contracts located in Florida and the Gulf Coast region of Louisiana, Mississippi, and Alabama. Uniti intends to use the net proceeds to repay and terminate its existing ABS bridge facility and for general corporate purposes, including success-based capital investments or repayment of outstanding debt.
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