We advised Uniti on its high-yield secured notes offering

Davis Polk advised Uniti Group Inc. in connection with a Rule 144A / Regulation S offering of $300 million aggregate principal amount of 10.50% senior secured notes due 2028 issued by its subsidiaries Uniti Group LP, Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC. Upon the guarantee of the notes by certain regulated subsidiaries, the notes are expected to be mandatorily exchanged for the Issuers’ existing 10.50% senior secured notes due 2028 issued as “additional notes” under the indenture governing the existing notes.

Uniti Group intends to use the net proceeds of the offering for general corporate purposes, which may include funding a portion of the cash consideration payable in connection with Uniti Group’s previously announced merger with Windstream.

Uniti Group, 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.

The Davis Polk corporate team included partner Michael Kaplan, counsel John H. Runne and associate Carlos Escandón. The finance team included counsel Mayer J. Steinman and associate Zach Strother. The tax team included partners Michael Mollerus and Patrick E. Sigmon and associates Yixuan Long and Alex Ang Gao. All members of the Davis Polk team are based in the New York office.

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