Uniti Group Inc. Announces Extension of its Revolving Credit Facility
March 27 2023 - 8:00AM
Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today
announced that it has entered into an amendment to its credit
agreement that, upon receipt of routine regulatory approvals,
extends the maturity date of each lender’s commitment under the
Company’s senior secured revolving credit facility to September 24,
2027. The amendment also transitions the $500 million revolving
credit facility from LIBOR to Term SOFR, and in connection with
that change, sets the credit spread adjustment to ten basis points
for all interest periods.
“We are pleased to have successfully completed
the extension of our revolving credit facility and we greatly
appreciate the continued support of our lending institutions.
Taking into account this transaction and our other recent
successful debt refinancings, over 97% of our outstanding debt
matures in 2027 or later,” commented Paul Bullington, Senior Vice
President, Chief Financial Officer & Treasurer.
Bank of America acted as Left Lead Arranger on
the transaction.
ABOUT UNITI
Uniti, an internally managed real estate
investment trust, is engaged in the acquisition and construction of
mission critical communications infrastructure, and is a leading
provider of fiber and other wireless solutions for the
communications industry. As of December 31, 2022, Uniti owns
approximately 135,000 fiber route miles, 8.0 million fiber strand
miles, and other communications real estate throughout the United
States. Additional information about Uniti can be found on its
website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Paul Bullington, 251-662-1512Senior Vice President, Chief
Financial Officer & Treasurerpaul.bullington@uniti.com
Bill DiTullio, 501-850-0872Vice President, Investor Relations
& Treasurybill.ditullio@uniti.com
Uniti (NASDAQ:UNIT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Uniti (NASDAQ:UNIT)
Historical Stock Chart
From Jul 2023 to Jul 2024