Uniti Group Inc. (NASDAQ: UNIT) announced that its subsidiary Kinetic ABS Issuer LLC commenced an offering of $1.14 billion in secured fiber network revenue term notes. The notes carry an anticipated repayment date of June 2033.

The notes will be secured by residential fiber network assets and related customer agreements across 10 states: Texas, Arkansas, Kentucky, Ohio, Georgia, Iowa, Alabama, Florida, North Carolina and Oklahoma. The issuer and its parent entities are designated as unrestricted subsidiaries under Uniti's credit agreement and existing senior note indentures.

In connection with the offering, the issuer expects to increase the maximum commitment under its existing liquidity funding note facility and extend the maturity to align with the notes' final maturity date. Uniti plans to use net proceeds for general corporate purposes, including potential capital expenditures and debt repayment.

The notes will not be registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and outside the United States under Regulation S. The offering remains subject to market conditions and other factors.

This represents Uniti's second kinetic fiber securitization notes offering, according to the company's announcement. The Little Rock, Arkansas-based company operates as a fiber communications provider serving consumers and businesses across the United States through multiple brands including Uniti Wholesale, Kinetic, Uniti Fiber, and Uniti Solutions.