Monitor completion of Oklahoma regulatory approvals for pending asset transfer (deadline July 2027) — if not obtained, the $91M prefunding will prepay the Series 2026-2 notes. The securitization program's second tranche signals continued capital markets access for fiber buildout, but parent-level leverage is unaffected. Watch for future series issuances and any changes in debt service coverage ratio triggers.
Price Chart
Executive Summary
Uniti Group's bankruptcy-remote subsidiary Kinetic ABS Issuer LLC completed a $1.14B private offering of Series 2026-2 secured fiber network revenue term notes (5.834% Class A-2, 6.224% Class B, 7.536% Class C) under its fiber-to-the-home securitization program. Proceeds are for general corporate purposes including success-based capex and/or debt repayment. The issuance increases total outstanding term notes to $2.1B and includes a $91M prefunding account for pending Oklahoma asset acquisition subject to regulatory approvals.
Key Financial Metrics
Key Facts
- Issued $1,140,710,000 aggregate principal amount of Series 2026-2 secured fiber network revenue term notes
- Notes consist of $805,210,000 Class A-2 (5.834%), $134,200,000 Class B (6.224%), $201,300,000 Class C (7.536%)
- Anticipated repayment date June 2033, legal final maturity June 2058
- Prefunding account of ~$91.1M established for pending Oklahoma fiber assets (regulatory approval required by July 2027)
- Existing liquidity funding note facility increased and maturity extended; no new variable funding notes issued
- Total term notes outstanding post-closing: $2,100,810,000
- Notes are non-recourse to Uniti Group Inc.; secured by fiber network assets and customer contracts of the Obligors
Financial Impact
$1.14 billion debt issuance by subsidiary; $91.1 million prefunded for pending asset acquisition
Risk Factors
- Pending Oklahoma regulatory approvals may not be obtained, triggering prepayment of prefunded amount
- Subsidiary-level leverage increases; rapid amortization triggers if debt service coverage ratio falls below 1.50x
- Interest rate risk: fixed-rate notes with make-whole prepayment provisions until June 2030
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000950103-26-010759 |
| Document: dp250187_ex0402.htm | 0000950103-26-010759 |
| Document: dp250187_8k.htm | 0000950103-26-010759 |
| Document: 0000950103-26-010759-index-headers.html | 0000950103-26-010759 |
| Document: 0000950103-26-010759-index.html | 0000950103-26-010759 |
| Document: 0000950103-26-010759.txt | 0000950103-26-010759 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Press Release | $9.85 $9.57 | ▼ −2.84% | ▼ −4.16% | $8.04 (−18.38%) |
Aug 21, 2026 6w ago | 8-K | $9.97 $9.46 | ▼ −5.12% | ▼ −4.59% | $8.04 (−19.36%) |
Aug 5, 2026 8w ago | Press Release | $9.69 $9.85 | ▼ −1.65% | ▼ −2.25% | $8.04 (+17.03%) |
Aug 5, 2026 8w ago | Press Release | $9.69 $9.85 | ▲ +1.65% | ▲ +2.25% | $8.04 (−17.03%) |
Jul 30, 2026 9w ago | 8-K | $9.29 $10.14 | ▼ −9.15% | ▼ −5.18% | $8.04 (+13.46%) |
Jul 17, 2026 11w ago | 8-K | $11.04 $10.01 | ▼ −9.33% | ▼ −13.78% | $8.04 (−27.17%) |
Jun 11, 2026 16w ago | Institutional Cluster | $12.52 $11.11 | ▼ −11.26% | ▼ −13.15% | $8.04 (−35.78%) |
Jun 5, 2026 17w ago | 8-K | $11.49 $11.04 | ▼ −3.92% | ▼ −5.55% | $8.04 (−30.03%) |
Jun 1, 2026 17w ago | 8-K | $11.13 $11.47 | ▲ +3.05% | ▲ +4.35% | $8.04 (−27.76%) |
Jun 1, 2026 17w ago | Press Release | $11.13 $11.47 | ▲ +3.05% | ▲ +4.35% | $8.04 (−27.76%) |
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