The Firm recently represented the initial purchasers, led by Goldman Sachs & Co. LLC and Citigroup Global Markets Inc., in certain matters in the offering of $300 million aggregate principal amount of 7.5% Convertible Senior Notes due 2027 by Uniti Group Inc. (“Uniti”). The net proceeds were used to fund the repurchase of Uniti Fiber Holdings Inc.’s (“Uniti Fiber”) 4.0% exchangeable senior notes due 2024 and to fund the concurrent capped call transactions. Any remaining net proceeds will be used for general corporate purposes.
In addition, the Firm represented certain financial institutions, including one or more of the initial purchasers and/or their respective affiliates, in connection with the capped call transactions relating to the common stock of Uniti, entered into concurrently with the offering of the notes.
Uniti (NASDAQ: UNIT), an independent internally managed REIT, is engaged in the acquisition, construction and leasing of mission critical communications infrastructure.
The Simpson Thacher team included Roxane Reardon, Lia Toback and Eunice Chang (Capital Markets); Jonathan Lindabury, Nathan Utterback and Danielle Robinson (Derivatives); and Marcy Geller, Michael Mann and Edward Grais (Tax).