| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers U > Headlines for Uniti Group Finance 2019 Inc. > News item |
Uniti Group begins tender offer for any and all 8¼% notes due 2023
By Taylor Fox
New York, Jan. 19 – Uniti Group Inc.’s subsidiaries Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC commenced a cash tender offer to purchase any and all of the company’s $1.11 billion outstanding 8¼% senior notes due 2023 (Cusip: 20341WAD7), according to an 8-K filing with the Securities and Exchange Commission and a press release.
The offer was launched on Tuesday morning as a capped offer with a maximum acceptance amount of $750 million, but Uniti priced an upsized issue of 6½% eight-year notes over the course of the day.
Holders who tender their notes prior to the early tender deadline of 5 p.m. ET on Feb. 1 will receive the total consideration of $1,016.70 per $1,000 of notes, which includes a $30 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.
The proposed amendments will, if adopted, among other things, eliminate substantially all of the restrictive covenants and certain events of default in the indenture.
The withdrawal deadline is 5 pm. ET on Feb. 1.
The early settlement date is expected to be Feb. 2.
The offer will expire at 11:59 p.m. ET on Feb. 16.
Final settlement date is expected on Feb. 18.
The offer is conditioned upon the closing of $1.1 billion of new notes from a concurrent debt financing.
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.