Uniti (UNIT) Group Announces $600M Offering to Clear Some Debt

Uniti Group Inc. (NASDAQ:UNIT) is one of the 10 best-value penny stocks to buy, according to analysts. On June 9, the company confirmed the pricing of $600 million principal amount of 8.625% senior unsecured notes due 2032.

Uniti (UNIT) Group Announces $600M Offering to Clear Some Debt

A business man holding a tablet, discussing the features of a Real Estate mobile-focused tech platform.

Uniti Group and its subsidiaries have guaranteed the notes on a senior unsecured basis, which guarantees indebtedness under the senior secured credit facility. Similarly, the company plans to use net proceeds from the offering to partially redeem its $500 million 10.50% notes due in 2028. The remaining funds are to be used for general corporate purposes.

Uniti Group Inc. (NASDAQ:UNIT) is a real estate investment trust that acquires and constructs mission-critical communications infrastructure. It is a leading provider of fiber and other wireless solutions for the communications industry.

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