We advised Uniti on its inaugural fiber-to-the-home securitization notes offering

Davis Polk advised Uniti Group Inc. in connection with a Rule 144A / Regulation S offering of $960.1 million of fiber securitization notes, consisting of $677.71 million of 5.219% Series 2026-1, Class A-2 term notes, $112.96 million of 5.561% Series 2026-1, Class B term notes and $169.43 million of 7.653% Series 2026-1, Class C term notes issued by Kinetic ABS Issuer LLC, which is a limited-purpose, bankruptcy-remote, indirect subsidiary of Uniti. The notes will be secured by certain fiber network assets and certain residential customer contracts in Arkansas, Georgia, Kentucky, Ohio and Texas.

In connection with the securitization, Uniti also closed a $150 million variable funding note purchase agreement under which, subject to satisfaction of certain conditions, the issuer can request a commitment increase of up to $150 million of Series 2026-1 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 Demitrios (Jimmy) T. Moustakis and associates Matthew Lee, Anthony (A.J.) Koch and Aaron Kirchner-Loeser. The capital markets team included counsel John H. Runne. The real estate team included partner Brian D. Hirsch and associate Paulina P. Lerner. The tax team included counsel Yixuan Long and associate Alex (Ang) Gao. All members of the Davis Polk team are based in the New York office.

Copy link to share post