Windstream Uniti Master Lease Agreement

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“We look forward to a strong collaboration with Windstream as we focus on improving Windstream`s competitive position and the network Windstream leases to Uniti.” Windstream Holdings, Inc., a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networks, basic transportation, security, unified communications, and managed services to mid-sized, enterprise, and wholesale customers in the United States. The company also provides broadband, entertainment and security services to consumers and small and medium-sized businesses, especially in rural areas of 18 states. Services are delivered across multiple network platforms, including a national IP network, our proprietary core cloud architecture, and a local, long-range fiber optic network that spans approximately 150,000 miles. For more information, see or Please visit our newsroom in or follow us on Twitter in @Windstream. Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission-critical communications infrastructure and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2020, Uniti owns 6.5 million miles of fiber optics and other communications properties in the United States. For more information about Uniti, see on the website.

In addition, Windstream reached an agreement with its creditors with an initial lien on a restructuring plan that would reduce the debt burden by more than $4 billion by $5.8 billion at the time of bankruptcy. A reorganization plan will be filed by the end of March and the company plans to exit bankruptcy in the middle of the year, Windstream said. Kenny Gunderman, President and Chief Executive Officer of Uniti, commented: “We are pleased that our previously announced settlement agreement with Windstream is now effective and that Windstream has fully emerged from bankruptcy with a significantly reduced capital structure. This settlement achieves a mutually beneficial outcome for Uniti and Windstream and provides Uniti with significant strategic value, including the expansion of approximately 90% of its national fibre presence and third-party financing capacity. The settlement also provides Uniti with significant credit improvements through the new branched framework leases and the restrictive covenants and financial guarantees that govern these leases. Windstream still earns 65% or 84% of Uniti`s revenue and EBITDA in 2019. However, Windstream is now a much healthier tenant and Uniti has removed windstream`s bankruptcy concerns from investors` minds. .