09:35 AM EDT, 05/06/2024 (MT Newswires) -- Uniti Group ( UNIT ) said Monday that four of its subsidiaries have launched an offering of $300 million worth of 10.50% senior secured notes due 2028.

The notes will be guaranteed on a senior unsecured basis by the company and on a senior secured basis by each of its subsidiaries, namely Uniti Group LP, Uniti Fiber Holdings, Uniti Group Finance 2019, and CSL Capital.

The company said the subsidiaries plan to use the net proceeds from the offering for general corporate purposes, which may include funding some of the cash consideration payable in connection with its planned merger with Windstream.

Uniti Group ( UNIT ) also said if the issuers are successful, the commitments under its $300 million bridge facility related to its merger with Windstream will be reduced to zero.

Price: 4.4497, Change: +0.01, Percent Change: +0.22