Uniti Group (UNIT) said late Thursday an offering of $1.4 billion of additional 8.250% senior first lien notes due 2031 by Windstream Holdings II units Windstream Services and Windstream Escrow Finance has been priced.
The offering to institutional investors will likely close on Dec. 23.
The duo intends to use the net proceeds with cash on hand to, among other things, fund the redemption of all $1.4 billion of Windstream's 7.750% senior first lien notes due 2028 at 101.938% of the principal amount.
Uniti announced an agreement in May to merge with Windstream Holdings II.
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