Uniti Group Inc. Announces Completion of Notes Offering and Early Settlement of Consent Solicitation and Cash Tender Offer for Any and All of its Outstanding 8.25% Senior Notes Due 2023

LITTLE ROCK, Ark., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Uniti Group Inc. (the “Company” or “Uniti”) (Nasdaq: UNIT) today announced the successful completion of its previously announced private offering of $1.11 billion aggregate principal amount of 6.50% senior notes due 2029 (the “New Notes”) by its subsidiaries, Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (collectively, the “Issuers” and, together with the Company, “us” or “we”) and the early settlement election exercised by the Issuers of their previously announced cash tender offer (the “Offer”) to purchase any and all of the Issuers’ outstanding 8.25% Senior Notes due 2023 (the “Existing Notes”) and the related solicitation of consents (the “Consent Solicitation”) to certain proposed amendments to the indenture governing the Existing Notes (the “Existing Notes Indenture”) to eliminate substantially all of the restrictive covenants and certain events of default (the “Proposed Amendments”). The Offer is being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated January 19, 2021 (as amended as of the date hereof, the “Statement”), which more fully sets out the terms of the Offer and Consent Solicitation.   

The Issuers today accepted for purchase, and paid for, $1,050,928,000 aggregate principal amount of Existing Notes that were validly tendered (and not validly withdrawn) at or prior to 5:00 p.m. New York City time, on February 1, 2021 (the “Early Tender Date”). Holders of Existing Notes that have been accepted for purchase in connection with the Early Tender Date received the applicable total consideration of $1,016.70, which includes an early tender premium of $30.00 per $1,000 principal amount of the Existing Notes accepted for purchase. Holders of Notes accepted for purchase pursuant to the Offer also received accrued and unpaid interest on the Existing Notes from the last interest payment date to, but not including, the date hereof. The Issuers used the net proceeds from the sale of the New Notes to fund the purchase of Existing Notes accepted for purchase pursuant to the Offer.

Pursuant to the Consent Solicitation, the Issuers obtained the Requisite Consents, which allows the Issuers to amend the Existing Notes Indenture. The Issuers and trustee to the Existing Notes Indenture have today executed a supplemental indenture to the Existing Notes Indenture to implement the Proposed Amendments.