Uniti Group Inc. Announces Private Offering of Senior Secured Notes

Issues Conditional Notice of Redemption for 6.00% Senior Secured Notes Due 2023

LITTLE ROCK, Ark., April 06, 2021 (GLOBE NEWSWIRE) -- Uniti Group Inc. (the “Company,” “Uniti,” or “we”) (Nasdaq: UNIT) today announced that its subsidiaries, Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (together, the “Issuers”), have commenced an offering of $570 million aggregate principal amount of senior secured notes due 2028 (the “new notes”). The new notes will be guaranteed on a senior unsecured basis by the Company and on a senior secured basis by each of its subsidiaries (other than the Issuers) that guarantees indebtedness under the Company’s senior secured credit facilities and the Company’s existing secured notes (except initially those subsidiaries that require regulatory approval prior to guaranteeing the new notes). The new notes and the subsidiary guarantees will be secured by first-priority liens on substantially all of the assets of the Issuers and the subsidiary guarantors (other than certain excluded assets), which liens also ratably secure the Company’s senior secured credit facilities and existing secured notes.

The Issuers intend to use the net proceeds from the offering of the new notes to fund the redemption (the “Redemption”) in full of the outstanding 6.00% senior secured notes due 2023 (the “2023 secured notes”), including related premiums, fees and expenses in connection with the foregoing. The notice of redemption issued today for the 2023 secured notes is conditioned upon completion of one or more debt financings in an aggregate principal amount of at least $570 million. This press release does not constitute a notice of redemption with respect to the 2023 secured notes.

The new notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act or any applicable state securities laws. The new notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States in compliance with Regulation S under the Securities Act.