We advised Uniti on a high-yield offering, new term loan and amendments to revolving credit facilities

Davis Polk advised Uniti Group Inc. in connection with a Rule 144A / Regulation S offering of $1.4 billion aggregate principal amount of 7.500% senior secured notes due 2033 issued by its subsidiary Windstream Services, LLC, as well as with a new $1 billion incremental term loan facility, and extensions and amendments to Uniti’s revolving credit facilities. The proceeds from the notes offering and the new term loan were used to fund the redemption in full of its 10.50% senior secured notes due 2028, including related premiums, fees and expenses.

Uniti is a premier insurgent fiber provider dedicated to enabling mission-critical connectivity across the United States. It builds, operates and delivers fast and reliable communications services, empowering more than a million consumers and businesses in the digital economy. Its broad portfolio of services is offered through a suite of brands: Uniti Wholesale, Kinetic, Uniti Fiber and Uniti Solutions.

The Davis Polk capital markets team included partner Michael Kaplan, counsel John H. Runne and associates Courtney Wax, Jenny (Jingjing) Li and Anarelis Ramirez. The finance team included counsel Mayer J. Steinman and associates Zachary Strother and Elli Park. The tax team included partner Michael Mollerus, counsel Yixuan Long and associates Yueyu Yang and Alex (Ang) Gao. Members of the Davis Polk team are based in the New York and London offices.

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