Uniti and windstream reach agreement in principle on settlement of litigation

Uniti and windstream reach agreement in principle on settlement of litigation.uniti group - settlement is supported by lenders that own more than 72% of windstream's outstanding first lien debt.uniti group inc - settlement is also supported by affiliates of elliott management corporation, windstream's largest creditor.uniti group - to resolve any and all claims and causes of action that have been or may be asserted against uniti by windstream.uniti group - settlement is also supported by other members of ad hoc first lien windstream creditors group.uniti group - resolves litigation against co brought by windstream, some of its creditors in context of windstream's bankruptcy.uniti group - agreement provides expansion in coming years for additional fiber deployment.uniti group - expansion for fiber deployment with commitment to invest up to $1.75 billion of capital in uniti-owned, windstream-leased assets.uniti group - about 90% of committed capital as part of settlement agreement will be used to acquire or build new reit eligible fiber assets.uniti group inc - uniti will purchase, for $40 million, certain windstream-owned fiber assets.uniti group - consideration from uniti to windstream to consist of $400 million in consideration paid in quarterly cash installments over five years.uniti group inc - windstream will transfer to co certain dark fiber iru contracts that currently generate approximately $21 million in annual ebitda.
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