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.
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, 251-662-1512
Senior Vice President, Chief Financial Officer & Treasurer
Bill DiTullio, 501-850-0872
Vice President, Investor Relations & Treasury