Uniti Group $250 million fiber securitization notes offering

Davis Polk advised Uniti Group Inc. in connection with a Rule 144A and Regulation S offering of $250 million fiber securitization notes consisting of $180 million 5.177% Series 2025-2, Class A-2 term notes, $28.2 million 5.621% Series 2025-2, Class B term notes and $41.8 million 7.834% Series 2025-2, Class C term notes issued by Uniti Fiber ABS Issuer LLC and Uniti Fiber TRS Issuer LLC, which are limited-purpose, bankruptcy-remote, indirect subsidiaries of Uniti. The notes will be secured by certain fiber network assets and related customer contracts in the States of Florida, Georgia, South Carolina and the Gulf Coast region of Louisiana, Mississippi and Alabama.

In connection with the securitization, Uniti also closed a $75 million variable funding note purchase agreement, where subject to satisfaction of certain conditions, the issuers can request a commitment increase of up to $75 million Series 2025-2 Class A-1-V variable funding notes.

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

The Davis Polk finance team included partner Ryan D. McNaughton, counsel Jonathan B. Brown and Demitrios (Jimmy) T. Moustakis and associates Matthew Lee and Anthony (A.J.) Koch. The capital markets team included partner Michael Kaplan and counsel John H. Runne. Partner Brian D. Hirsch, counsel J. Avelina Burbridge and associate Paulina P. Lerner provided real estate advice. All members of the Davis Polk team are based in the New York office.