Reported Earlier, Uniti Group Prices $300M 10.50% Senior Secured Notes Due 2028
Portfolio Pulse from Benzinga Newsdesk
Uniti Group has priced $300M in 10.50% senior secured notes due 2028 at an issue price of 103.00%, aiming to close the offering by May 17, 2024. The proceeds are intended for general corporate purposes, including funding a portion of the cash consideration for the merger with Windstream.
May 07, 2024 | 8:38 am
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Uniti Group's issuance of $300M in senior secured notes could provide financial flexibility and support its merger with Windstream, indicating a strategic move for growth.
The issuance of senior secured notes by Uniti Group is a significant financial move, likely to be viewed positively by investors as it provides the company with additional capital for general corporate purposes and to support its merger with Windstream. This could lead to a positive short-term impact on UNIT's stock price, as it demonstrates the company's proactive approach to financing its growth and merger activities.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100