Uniti Group Inc. Announces Extension of its Revolving Credit Facility
03/27/2023 - 08:00 AM
LITTLE ROCK, Ark., March 27, 2023 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today announced that it has entered into an amendment to its credit agreement that, upon receipt of routine regulatory approvals, extends the maturity date of each lender’s commitment under the Company’s senior secured revolving credit facility to September 24, 2027. The amendment also transitions the $500 million revolving credit facility from LIBOR to Term SOFR, and in connection with that change, sets the credit spread adjustment to ten basis points for all interest periods.
“We are pleased to have successfully completed the extension of our revolving credit facility and we greatly appreciate the continued support of our lending institutions. Taking into account this transaction and our other recent successful debt refinancings, over 97% of our outstanding debt matures in 2027 or later,” commented Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer.
Bank of America acted as Left Lead Arranger on the transaction.
ABOUT UNITI
Uniti, 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. As of December 31, 2022, Uniti owns approximately 135,000 fiber route miles, 8.0 million fiber strand miles, and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com .
INVESTOR AND MEDIA CONTACTS:
Paul Bullington, 251-662-1512paul.bullington@uniti.com
Bill DiTullio, 501-850-0872bill.ditullio@uniti.com
UNIT Rankings
#4568 Ranked by Stock Gains
UNIT Stock Data
Industry
Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Sector
Real Estate and Rental and Leasing
Tags
Other Commercial and Industrial Machinery and Equipment Rental and Leasing , Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing
Country
US
City
Little Rock
About UNIT
cs&l (nasdaq: csal), an s&p 400 midcap index company headquartered in little rock, ark., is a publicly traded real estate investment trust primarily engaged in the acquisition of communication distribution systems. cs&l currently owns 3.6 million strand miles of fiber, 235,000 route miles of copper and central office land and buildings across 29 states. as a strategic financing partner to the telecommunications industry, cs&l continually evaluates challenges and trends impacting the industry, and opportunities to grow and diversify its portfolio by acquiring additional communication distribution systems. as a real estate investment trust (reit), cs&l intends to grow and diversify its portfolio over time, primarily in three ways: 1. acquiring and leasing communications assets that qualify as real property. 2. financing fiber for existing and new customers. 3. acting as financing partner to facilitate m&a. cs&l also expects to benefit from rent escalations related to our existin
