Uniti Group Inc. announced the completion of a private offering of $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due 2032 through its subsidiaries. The net proceeds from the issuance were used to repay borrowings under Uniti Services' senior secured first lien term loan facility due 2031, cover related fees and expenses, and for general corporate purposes, which may include the repayment of outstanding debt and success-based capital expenditures. The notes are fully and unconditionally guaranteed on a senior unsecured basis by Uniti Group Inc., Uniti Group LLC, and certain domestic restricted subsidiaries. The company plans to seek regulatory approval for its regulated subsidiaries to guarantee the notes and, upon approval, expects the notes to be mandatorily exchanged for additional notes under its existing 8.625% senior notes due 2032. The notes feature early redemption options and a change of control repurchase right for holders.
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