| Schedule of Notes and Other Debt |
A summary of notes and other debt, net was as follows:
| | | | | | | | | | | | | | | | (Millions) | | March 31,
2026 | | December 31,
2025 | | Total principal amount | | $ | 10,683.1 | | | $ | 9,540.5 | | | Unamortized premium (discount) and deferred financing costs | | (36.5) | | | (1.1) | | | Less current portion of notes and other debt | | (10.0) | | | (10.0) | | | Notes and other debt, net | | $ | 10,636.6 | | | $ | 9,529.4 | |
Notes and other debt, net consist of the following:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | (Millions) | | Principal | | Unamortized Premium (Discount) and Deferred Financing Costs | | Principal | | Unamortized Premium (Discount) and Deferred Financing Costs | | Credit Agreements: | | | | | | | | | Uniti senior secured revolving credit facility, variable rate, due December 30, 2027 | | $ | — | | | $ | (2.5) | | | $ | — | | | $ | (2.9) | | Windstream senior secured revolving credit facility - variable rate, due December 30, 2027 | | — | | | — | | | 315.0 | | | — | | Senior secured Windstream term loan - variable rate, due October 1, 2031 (premium based on imputed interest rate of 9.15%) | | — | | | — | | | 500.0 | | | 1.2 | | Senior secured 2025 term loan - variable rate, due October 6, 2032 (discount based on imputed interest rate of 8.57%) | | 997.5 | | | (23.0) | | | 1,000.0 | | | (23.6) | | | | 997.5 | | | (25.5) | | | 1,815.0 | | | (25.3) | | | Notes: | | | | | | | | | Senior secured notes - 4.75%, due April 15, 2028 (discount based on imputed interest rate of 5.04%) | | 570.0 | | | (3.2) | | | 570.0 | | | (3.6) | | Senior secured notes - 8.25%, due October 1, 2031 (premium based on imputed interest rate of 7.287%) | | 2,200.0 | | | 95.8 | | | 2,200.0 | | | 99.3 | | Senior secured notes - 7.50%, due October 15, 2033 (discount based on imputed interest rate of 7.72%) | | 1,400.0 | | | (17.3) | | | 1,400.0 | | | (17.8) | | Senior unsecured notes - 6.50%, due February 15, 2029 (discount based on imputed interest rate of 6.83%) | | 1,110.0 | | | (9.5) | | | 1,110.0 | | | (10.3) | | Senior unsecured notes - 6.00% due January 15, 2030 (discount based on imputed interest rate of 6.27%) | | 700.0 | | | (6.2) | | | 700.0 | | | (6.6) | | Senior unsecured notes - 8.625% due June 15, 2032 (discount based on imputed interest rate of 9.03%) | | 1,600.0 | | | (30.4) | | | 600.0 | | | (15.6) | | Convertible senior notes - 7.50%, due December 1, 2027 (discount based on imputed interest rate of 8.29%) | | 306.5 | | | (3.8) | | | 306.5 | | | (4.3) | | | | 7,886.5 | | | 25.4 | | | 6,886.5 | | | 41.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | (Millions) | | Principal | | Unamortized
Premium
(Discount)
and Deferred
Financing
Costs | | Principal | | Unamortized
Premium
(Discount)
and Deferred
Financing
Costs | | ABS Notes: | | | | | | | | | | Series 2025-1 | | | | | | | | | ABS Notes (Class A-2) - 5.877%, due April 1, 2030 (discount based on imputed interest rate of 6.36%) | | 426.0 | | | (7.2) | | | 426.0 | | | (7.6) | | ABS Notes (Class B) - 6.369%, due April 1, 2030 (discount based on imputed interest rate of 6.86%) | | 65.0 | | | (1.1) | | | 65.0 | | | (1.2) | | ABS Notes (Class C) - 9.018%, due April 1, 2030 (discount based on imputed interest rate of 9.54%) | | 98.0 | | | (1.7) | | | 98.0 | | | (1.8) | | | Series 2025-2 | | | | | | | | | ABS-2 Notes (Class A-2) - 5.177%, due January 20, 2031 (discount based on imputed interest rate of 5.76%) | | 180.0 | | | (4.4) | | | 180.0 | | | (4.5) | | ABS-2 Notes (Class B) - 5.621%, due January 20, 2031 (discount based on imputed interest rate of 6.21%) | | 28.2 | | | (0.7) | | | 28.2 | | | (0.7) | | ABS-2 Notes (Class C) - 7.834%, due January 20, 2031 (discount based on imputed interest rate of 8.45%) | | 41.8 | | | (1.0) | | | 41.8 | | | (1.1) | | | Kinetic ABS Notes: | | | | | | | | | | Series 2026-1 | | | | | | | | | Kinetic ABS Notes (Class A-2) - 5.219%, due February 1, 2031 (discount based on imputed interest rate of 5.720%) | | 677.7 | | | (14.3) | | | — | | | — | | Kinetic ABS Notes (Class B) - 5.561%, due February 1, 2031 (discount based on imputed interest rate of 6.066%) | | 113.0 | | | (2.4) | | | — | | | — | | Kinetic ABS Notes (Class C) - 7.653%, due February 1, 2031 (discount based on imputed interest rate of 8.184%) | | 169.4 | | | (3.6) | | | — | | | — | | | | 1,799.1 | | | (36.4) | | | 839.0 | | | (16.9) | | | Notes and other debt, net | | $ | 10,683.1 | | | $ | (36.5) | | | $ | 9,540.5 | | | $ | (1.1) | |
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