Welcome to our dedicated page for Uniti Group news (Ticker: UNIT), a resource for investors and traders seeking the latest updates and insights on Uniti Group stock.
Uniti Group Inc. (Nasdaq: UNIT) is a publicly traded real estate investment trust (REIT) headquartered in Little Rock, Arkansas. The company is primarily engaged in the acquisition and leasing of communication infrastructure assets. Uniti Group boasts an extensive portfolio including approximately 140,000 route miles of fiber in the United States, with significant coverage in the Southeast region.
Uniti's core business revolves around providing fiber leasing services to enterprises. The company has recently agreed to merge with Windstream, a move that will see Uniti expand its operations into the consumer telecom market. This strategic merger will transition Uniti out of its REIT status, enabling the combined firm to offer both enterprise and residential telecom services, thereby diversifying its revenue streams. Post-merger, the firm will own 217,000 route miles of fiber, covering 4.3 million households and 150,000 commercial buildings.
As a strategic financing partner to the telecommunications industry, Uniti continuously evaluates industry challenges and trends to identify growth opportunities. The company's strategy focuses on acquiring and leasing communication assets that qualify as real property, financing fiber for existing and new customers, and acting as a financing partner to facilitate mergers and acquisitions.
Uniti's recent achievements include updating its 2023 outlook to reflect transaction-related and other incurred costs. The company’s outlook for 2023 remains optimistic, with a consolidated revenue projection that excludes future acquisitions and capital market transactions. Looking ahead to 2024, Uniti has set a comprehensive financial outlook, underscoring its commitment to sustained growth and profitability.
For investor relations and media inquiries, key contacts include Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer, and Bill DiTullio, Vice President, Investor Relations & Treasury.
- 2023 Financial Outlook: Adjusted projections for transaction-related costs.
- Strategic Merger: Uniti to merge with Windstream, expanding into the consumer telecom market.
- Asset Portfolio: Ownership of 217,000 route miles of fiber post-merger.
- Revenue Streams: Diversified revenue from enterprise and residential telecom services.
Uniti Group (Nasdaq: UNIT) has completed a $589 million fiber securitization notes offering through its subsidiaries. The offering consists of three series of notes due in April 2030: $426 million at 5.9%, $65 million at 6.4%, and $98 million at 9.0%, with a weighted average yield of 6.5%.
The notes are secured by fiber network assets and customer contracts in Florida and the Gulf Coast region (Louisiana, Mississippi, and Alabama). The company will use the proceeds to repay its existing ABS bridge facility and partially redeem $125 million of its 10.50% senior secured notes due 2028 at a redemption price of 103% plus accrued interest on February 14, 2025.
According to CFO Paul Bullington, this landmark transaction represents the first true enterprise fiber securitization and demonstrates Uniti's efforts to strengthen its balance sheet and reduce capital costs.
Uniti Group (Nasdaq: UNIT) has announced it will release its fourth quarter and full year 2024 financial results before the Nasdaq Stock Exchange opens on February 21, 2025. The company will host a conference call to discuss the earnings at 8:30 AM Eastern Time on the same day.
Interested parties can participate via telephone by registering through the company's Investor Relations website. The conference call will be webcast live, and a replay will be available on the investor relations platform.
Uniti Group (Nasdaq: UNIT) has released its tax reporting information for 2024 distributions. The company paid three quarterly distributions of $0.15 per share, totaling $0.45 per share for the year. The distributions are broken down as follows:
- $0.3882 per share as Ordinary Dividend (non-qualified dividend income)
- $0.0378 per share as Capital Gain Distribution
- $0.0240 per share as Nondividend Distribution
Additionally, $0.0273 of each distribution is classified as Section 897 Ordinary Dividends, and $0.0126 as Section 897 Capital Gains. The Ordinary Dividend portion qualifies as Section 199A Dividends.
Uniti Group (Nasdaq: UNIT) has secured a new 20-year long-haul fiber and conduit contract with an existing strategic hyperscale customer. The project involves constructing over 130 route miles of new multi-conduit systems and high-strand count fiber cables, connecting Montgomery, AL to Cuba, AL.
The infrastructure will link key data center locations and provide a diverse path to other north-south, long-haul routes, terminating just east of Meridian, MS. The contract, executed in Q4 2024, is scheduled for delivery in 2026. This development reflects growing demand from hyperscale customers seeking multiple fiber paths for network redundancy in strategic data center locations.
Uniti Group (Nasdaq: UNIT) announced the pricing of $589 million in secured fiber network revenue term notes through its subsidiaries. The offering consists of:
- $426 million at 5.9% (Class A-2)
- $65 million at 6.4% (Class B)
- $98 million at 9.0% (Class C)
The notes, with a weighted average yield of 6.5%, will mature in April 2030 and will be secured by fiber network assets and customer contracts in Florida, Louisiana, Mississippi, and Alabama. The offering is expected to close on February 3, 2025. Proceeds will be used to repay the existing ABS bridge facility and for general corporate purposes, including success-based capital investments and debt repayment.
Uniti Group (Nasdaq: UNIT) announced that its subsidiaries, Uniti Fiber ABS Issuer and Uniti Fiber TRS Issuer , have launched an offering of $589 million in secured fiber network revenue term notes. The Notes, due for repayment in April 2030, will be secured by fiber network assets and related customer contracts in Florida and the Gulf Coast region (Louisiana, Mississippi, and Alabama).
The proceeds will be used to repay and terminate the existing ABS bridge facility and for general corporate purposes, including potential success-based capital investments and debt repayment. The Notes will be offered exclusively to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, without registration under the Securities Act of 1933.
Uniti Group (Nasdaq: UNIT) announced that its subsidiary Windstream Services has priced $1.4 billion of 8.250% Senior First Lien Notes due 2031. This is an additional issuance to notes previously issued on October 4, 2024. The offering is expected to close on December 23, 2024.
Windstream will use the proceeds, along with cash on hand, to redeem all $1.4 billion of its existing 7.750% senior first lien notes due 2028 at a redemption price of 101.938%. The transactions are intended to be leverage neutral. The company's CFO Paul Bullington stated they will continue evaluating ways to strengthen their balance sheet by extending debt maturity and lowering interest expenses.
Uniti Group (Nasdaq: UNIT) has announced its participation in the upcoming Raymond James 2024 TMT & Consumer Conference, scheduled for December 9-10, 2024, in New York, NY. The company will be represented by Chief Revenue Officer Ron Mudry and Vice President of Investor Relations & Treasury Bill DiTullio.
All investor materials used during the conference will be accessible to the public through Uniti's Investor Relations website at investor.uniti.com in the Events & Presentations section.
Uniti Group (Nasdaq: UNIT) has announced its participation in the BofA Securities 2024 Leveraged Finance Conference. Senior VP, CFO and Treasurer Paul Bullington, along with VP of Investor Relations & Treasury Bill DiTullio, will present on December 3, 2024, at 9:30 AM EST in Boca Raton, FL.
The presentation will be accessible through a live webcast on Uniti's Investor Relations website at investor.uniti.com, with a -time replay option available after the event.
Uniti Group (Nasdaq: UNIT) has announced its participation in Nareit's REITworld 2024 Annual Conference taking place on November 19, 2024, in Las Vegas, Nevada. The company will be represented by President and CEO Kenny Gunderman and VP of Investor Relations & Treasury Bill DiTullio.
Investors can access presentation materials through Uniti's Investor Relations website at investor.uniti.com in the Events & Presentations section.
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