Uniti Group to sell $1.75 billion five-year secured notes on Friday

By Paul A. Harris

Portland, Ore., Feb. 5 – Uniti Group Inc. plans to price $1.75 billion of five-year senior secured notes (expected ratings: Caa1/CCC) on Friday, according to a syndicate source.

Citigroup Global Markets Inc. is the lead bookrunner. BofA Securities Inc., J.P. Morgan Securities LLC, Barclays, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

The issuing entities will be Uniti Group LP, Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC.

The Little Rock, Ark.-based managed real estate investment trust plans to use the proceeds to pay down its term loan B and revolving credit facility.

Uniti Group is engaged in communications infrastructure and provides wireless infrastructure solutions for the communications industry.

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