Uniti Group Inc. Announces Pricing of Senior Notes Offering | News

LITTLE ROCK, Ark., September 28, 2021 (GLOBE NEWSWIRE) – Uniti Group Inc. (the “Company,” “Uniti” or “we”) (Nasdaq: UNIT) announced today that its subsidiary, Uniti Group LP , Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC (collectively the “Issuers”) have their offering of 700 million). The new bonds will be issued at an issue price of 100,000%. The new bonds will be guaranteed by the Company and each of its subsidiaries (excluding the issuers) on a senior unsecured basis which guarantees the indebtedness under the Company’s senior secured credit facilities and the Company’s existing debt securities (with the exception initially of the subsidiaries which require official approval). before you guarantee the new grades). The offer is expected to end on October 13, 2021.

The Issuers intend to use the net proceeds from the Offering of the New Notes to provide the full repayment (the “Redemption”) of the outstanding 7.125% Senior Notes maturing in 2024 (the “2024 Senior Notes”), including any associated premiums and fees finance and expenses related to the foregoing. The issuers will issue the 2024 Senior Notes on December 15, 2021 (the “Redemption Date”) at a redemption price of 101.781% of the face value of the 2024 Senior Notes being redeemed plus accrued and unpaid interest, if any, to, but not limited to, the redemption date. The issuers will use the remaining net proceeds to prepay settlement obligations under the settlement agreement that Uniti has with Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in title, and its subsidiaries, “Windstream”) in connection with The Rise of Windstream out of bankruptcy. The redemption notice for the 2024 Senior Notes issued today is subject to the completion of one or more debt financings with a total principal amount of at least $ 700 million. This press release does not constitute a redemption notice in respect of the 2024 Senior Notes.

The New Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state, and may not be registered in the United States without registration or an equivalent exemption from registration under the Securities Act or all of the applicable State Securities Laws. The New Notes will only be offered to persons who are reasonably qualified to qualify as institutional buyers under Rule 144A under the Securities Act and outside the United States under Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale is unlawful prior to registration would be or qualify under the securities laws of such state or jurisdiction.

ABOUT UNIT

Uniti, an internally managed real estate investment trust, is a leader in the acquisition and construction of business-critical communications infrastructures and a leading provider of fiber optic and other wireless solutions for the communications industry. As of June 30, 2021, Uniti owns approximately 123,000 fiber line miles, 7.1 million fiber lines, and other communications properties in the United States. For more information about Uniti, please visit www.uniti.com.

FORWARDING STATEMENTS

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include all statements that are not statements of historical fact, including those relating to the proposed offering of the New Notes.

Words like “expect”, “expect,” “intend,” “guess,” “predictable,” “plan,” “believe,” “,” may “,” will “,” would “,” could “,” should “,” seek “and similar expressions or the negative of these terms are intended to identify such forward-looking statements, which are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from projected, projected or expected results. Although we believe that the assumptions underlying any forward-looking statements are reasonable, we cannot guarantee that our expectations will be met. Factors that could materially change our expectations include the future prospects of Windstream, our largest customer, and the ability and willingness of our customers to meet their commitments n to fulfill and / or fulfill all contractual agreements concluded with us, including master leasing agreements; the ability of our customers to comply with laws, rules and regulations in the operation of the assets we rent out; the ability and willingness of our clients to extend their lease agreements with us upon expiration and the ability to reposition our properties on equal or better terms in the event of non-renewal or in the event of an existing tenant replacing; the adverse effects of litigation affecting us or our customers; our ability to renew, extend or enter into contracts with major customers (including customers of the companies we have acquired); the availability and our ability to identify suitable acquisition opportunities and our ability to acquire and lease the relevant properties on favorable terms; the risk that we may not take full advantage of the potential benefits of acquisitions or have difficulty integrating acquired businesses; our ability to generate sufficient cash flows to service our outstanding debt and fund our capital financing obligations; our ability to access debt and equity markets; the impact on our business or the business of our customers due to credit downgrades and fluctuating interest rates; our ability to keep our people in key positions; our ability to qualify or maintain our status as a Real Estate Investment Trust (“REIT”); Changes in US tax laws and other state, state, or local laws, whether or not REITs; Covenants in our debt agreements that can limit our operational flexibility; our expectations about the impact of the COVID-19 pandemic on our results of operations and financial condition; other risks inherent in the communications industry and ownership of communications distribution systems, including potential environmental liability and real estate investment illiquidity; and additional factors described in our reports on filings with the United States Securities and Exchange Commission.

Uniti expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements contained in this press release to reflect changes in its expectations or changes in the events, conditions or circumstances on which any statement is based.

INVESTORS AND MEDIA CONTACTS:

Paul Bullington, 251-662-1512 Senior Vice President, Chief Financial Officer & Treasurer paul.bullington@uniti.com

Bill DiTullio, 501-850-0872 Vice President, Finance and Investor Relations bill.ditullio@uniti.com

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