| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Uniti takes in $1.05 billion early tenders of 8¼% notes due 2023
By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – Uniti Group Inc.’s subsidiaries, Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC, received and accepted tenders of $1,050,928,000 of their 8¼% senior notes due 2023 (Cusip: 20341WAD7) by the early deadline of their cash offer to purchase any and all of the $1.11 billion of outstanding notes, according to a press release.
The early tender deadline was 5 p.m. ET on Feb. 1.
The offer was launched on Jan. 19 as a capped offer with a maximum acceptance amount of $750 million, but Uniti priced an upsized issue of 6½% eight-year notes and removed the cap later in the day.
Holders who tendered their notes prior to the early tender deadline will receive the total consideration of $1,016.70 per $1,000 of notes, which includes a $30.00 early tender premium.
Holders who tender notes after the early tender deadline but prior to the expiration deadline will receive $986.70 per $1,000 of notes tendered.
In connection with the offer, the company also commenced a consent solicitation seeking approval of proposed amendments to the indenture. Sufficient consents were received by the early deadline to pass the amendments, which will, among other things, eliminate substantially all of the restrictive covenants and certain events of default in the indenture.
The early settlement date was Feb. 2.
The offer will expire at 11:59 p.m. ET on Feb. 16.
Final settlement date is expected on Feb. 18.
Citigroup Global Markets Inc. (212 723-6106, 800 558-3745) is the dealer manager and solicitation agent for the consent solicitation.
Global Bondholder Services Corp. (866 924-2200, contact@gbsc-usa.com) is the information and tender agent.
Uniti is a Little Rock, Ark.-based communication infrastructure group.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.