Liberty Latin America's largest credit silo, Cable & Wireless (C&W), priced a new $1.5 billion term loan at the end of January 2025. This new loan is set to mature in 2032 and will bear interest at a rate of SOFR + 3.25%. The transaction is expected to officially close on February 18, 2025.
The net proceeds from this new term loan will be utilized to repay an existing $1.5 billion term loan that was originally maturing in 2028. This strategic refinancing move aims to strengthen the company's financial position by extending its debt maturity profile.
According to Chris Noyes, Liberty Latin America's CFO, this action, combined with a $1.0 billion refinancing in October, successfully extends the majority of C&W's maturities beyond 2031. This brings the weighted average life of the C&W silo's debt to nearly 6 years, demonstrating the company's ability to access markets efficiently and positioning the business for continued growth.
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