VTR Completes Issuance of $1.15 Bn New Notes
July 02 2020 - 9:00AM
Business Wire
Average Maturity Extended to 7 Years Weighted Average Interest
Rate for New Notes of 5.7%
Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”)
(NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its
subsidiaries, VTR Comunicaciones SpA and VTR Finance N.V. (together
“VTR”) successfully completed the issuance of $600 million 5.125%
Senior Secured Notes due 2028 and $550 million 6.375% Senior Notes
due 2028, respectively.
The new notes were priced at par, and the combined proceeds from
the issuances, together with proceeds from certain hedging related
transactions, will be used to redeem VTR Finance N.V.’s existing
$1,260 million 6.875% Senior Notes due 2024 in full, and pay
transaction fees & expenses.
Further, we upsized VTR’s $185 million USD RCF to $200 million
and extended the maturity to 2026 (from 2023). On June 30, VTR
repaid $92 million drawings under its revolving credit facilities,
it had made earlier in the year.
These transactions extend the average tenor of VTR’s debt
obligations (excluding vendor financing) by over 3 years to 7
years.
LLA also announced it intends to contribute its 80% stake in
Cabletica S.A. into the VTR Finance N.V. credit pool. The
contribution is expected to be completed in Q1 2021.
ABOUT LIBERTY LATIN AMERICA
Liberty Latin America is a leading communications company
operating in over 20 countries across Latin America and the
Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil,
BTC, UTS and Cabletica. The communications and entertainment
services that we offer to our residential and business customers in
the region include digital video, broadband internet, telephony and
mobile services. Our business products and services include
enterprise-grade connectivity, data center, hosting and managed
solutions, as well as information technology solutions with
customers ranging from small and medium enterprises to
international companies and governmental agencies. In addition,
Liberty Latin America operates a sub-sea and terrestrial fiber
optic cable network that connects over 40 markets in the
region.
Liberty Latin America has three separate classes of common
shares, which are traded on the NASDAQ Global Select Market under
the symbols "LILA" (Class A) and "LILAK" (Class C), and on the OTC
link under the symbol "LILAB" (Class B).
For more information, please visit www.lla.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200702005104/en/
Investor Relations: Kunal
Patel, ir@lla.com
Media Relations: Claudia
Restrepo, llacommunications@lla.com
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