UNIT 10.500 2/15/2028

Uniti Group Inc

Credit, TMT


Publicly traded companies mentioned herein: Frontier Communications Parent Inc (FYBR), Lumen Technologies Inc (LUMN), Microsoft Corp (MSFT), Uniti Group Inc (UNIT)

Highlights

The presenter is long Uniti Group Inc (UNIT)’s 10.5% 2/15/2028 first lien bonds, which are trading at a 9.4% YTW and a roughly 500bp spread. He believes that when Uniti reacquires Windstream, the company will emerge as a scaled fiber provider and investors are essentially getting paid to wait until the deal closes in the back half of 2025, at which point the spread will narrow and result in a 14% total return.

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Idea Discussion

Commentor 1 - 2 weeks ago

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