Uniti Group Inc. 8-K

What Happened
Uniti Group Inc. (UNIT) and certain subsidiaries announced that on February 4, 2026 the Issuers completed a private offering of $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due June 15, 2032. The notes were issued under an Indenture dated February 4, 2026 and were sold at an issue price of 100.25% plus accrued interest from December 15, 2025 to February 4, 2026. Net proceeds will be used to repay borrowings under Uniti Services’ senior secured first lien term loan facility due 2031 and for general corporate purposes.

Key Details

• Principal amount: $1,000,000,000 of 8.625% Senior Notes due June 15, 2032.
• Issue price and interest: issued at 100.25% of principal plus accrued interest; interest payable semiannually (June 15 / Dec 15) beginning June 15, 2026.
• Use of proceeds: repay Uniti Services’ senior secured first lien term loan due 2031 (plus fees/expenses) and general corporate purposes.
• Guarantees and structure: notes are senior unsecured obligations, jointly and severally guaranteed by the Company, Uniti Group LLC and qualifying domestic restricted subsidiaries (certain regulated subsidiaries initially excluded pending regulatory approval to be sought within 60 days); notes rank equal to other senior unsecured debt and are effectively subordinated to secured debt.
• Redemption/repurchase features: redeemable prior to June 15, 2028 at 100% plus make‑whole; thereafter at schedule in the Indenture; up to 40% may be redeemed with equity offering proceeds at 108.625% (subject to conditions); change‑of‑control repurchase at 101%.

Why It Matters
This transaction replaces a portion of Uniti’s secured term loan with $1.0 billion of long‑dated unsecured high‑yield debt, extending maturity to 2032 and locking in an 8.625% coupon. For investors, key takeaways are the increase in long‑term unsecured leverage, potential improvements in near‑term liquidity by repaying the 2031 term loan, and the continued structural/subordination differences (these notes remain behind secured creditors). The filing also notes customary covenants and guarantees and that certain regulated subsidiaries will need regulatory approval to guarantee the notes—if approved, the new notes are expected to be exchanged and become fungible with the existing 8.625% series under Uniti’s 2025 indenture.