Uniti Group $2.6 billion notes offering
We advised Uniti on its high-yield secured notes offering
Davis Polk advised Uniti Group Inc. in connection with a Rule 144A and Regulation S offering of $2.6 billion aggregate principal amount of 10.50% senior secured notes due 2028.
Uniti Group used the net proceeds of the offering to repurchase in full the outstanding principal amount of its existing 7.875% senior secured notes due 2025, including related premiums, fees and expenses, and to repay borrowings under its revolving credit facility.
Uniti Group, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry.
The Davis Polk corporate team included partner Michael Kaplan, counsel John H. Runne and associate Jordyn Giannone. The finance team included counsel Mayer J. Steinman and associate Maggie Mantel. The tax team included partners Michael Mollerus, Michael Farber and Patrick E. Sigmon and associates Yixuan Long and Yueyu Yang. Counsel Sarah E. Kim provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.