On Tuesday, Uniti Group Inc. (NASDAQ:UNIT) has announced a major 20-year contract award for a long-haul fiber and conduit project with an existing strategic hyperscale customer.
The project includes the construction of more than 130 miles of multi-conduit systems and high-strand fiber optic cables connecting Montgomery to Cuba, Alabama.
This new east-west infrastructure will connect key data center locations and provide a varied path to other north-south long-haul routes, with the terminus just east of Meridian, Mississippi.
Greg OrtylUniti’s President of Wholesale & Strategic Accounts, highlighted the growing demand from hyperscale customers for multiple fiber paths to ensure network redundancy.
“We continue to see our hyperscale customers looking for three, four, or sometimes more fiber paths to strategic data center locations to provide the network redundancy they demand, and we are excited to participate in future solutions that are also strategic for Uniti,” says Ortyl. adds.
The company plans to deliver these fiber optic routes by 2026.
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In addition to this contract, Uniti recently priced a $589 million term note offering for secure fiber network revenues.
The notes, which include tranches of Classes A-2, B and C, will be backed by fiber network assets and customer contracts in Florida and the Gulf Coast regions of Louisiana, Mississippi and Alabama.
The weighted average yield of the notes is approximately 6.5%, with an expected repayment date of April 2030. This financing further supports Uniti’s fiber infrastructure expansion plans.
Price promotion: UNIT shares are trading 0.92% higher at $5.925 at last check on Tuesday.
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