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Uniti Group to pay down revolver drawings with notes proceeds
By Sara Rosenberg
New York, Feb. 2 – Uniti Group LP plans to repay revolving credit facility borrowings with a portion of the proceeds from a $2.6 billion senior secured notes offering, according to a market source.
The new notes will also be used to redeem in full the company’s 2025 secured notes and to pay related fees and expenses.
The notes were upsized from $1.75 billion so that the company could redeem all 2025 notes instead of a partial redemption.
Uniti is a Little Rock, Ark.-based real estate investment trust engaged in the acquisition and construction of mission critical infrastructure in the communications industry.
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