We recently published 10 Big Names Ending January With Explosive Gains. Uniti Group Inc. (NASDAQ:UNIT) was one of the top performers on Friday.
Uniti Group extended its winning streak to a third straight day on Friday, jumping 10.64 percent to close at $8.32 apiece as investor sentiment was bolstered by its successful raising of $960 million in fresh funds through the issuance of secured fiber network revenue term notes.
In a statement, Uniti Group Inc. (NASDAQ:UNIT) said that the notes were secured by certain residential fiber network assets and related customer agreements in Arkansas, Georgia, Kentucky, Ohio and Texas. The initiative was made through its subsidiary, Kinetic ABS Issuer LLC.
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Uniti Group Inc. (NASDAQ:UNIT) said that proceeds from the offer will be used for general corporate purposes, including capital expenditures and repayment of outstanding debts, among others.
In connection with the agreement, Kinetic also entered into a $150 million variable funding note facility which it can tap in a later date when needed, in a bid to support liquidity reserve and cover specified payment shortfalls.
“We are beyond thrilled to have completed our inaugural fiber-to-the-home securitization, a transaction that saw unprecedented levels of demand from investors for its kind. This transaction, combined with our prior securitization offerings at Uniti Fiber, provides capital to help fund our fiber buildouts and strengthen our balance sheet at a very attractive cost,” said CFO Paul Bullington.
In other news, Uniti Group Inc. (NASDAQ:UNIT) said that it would release the results of its earnings performance in the fourth quarter and full-year 2025 before market open on March 2, 2026
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Disclosure: None. This article is originally published at Insider Monkey.
