02 Jul VTR Completes Issuance of $1.15 Bn New Notes
Average Maturity Extended to 7 Years Weighted Average Interest Rate for New Notes of 5.7%
DENVER, Colorado–(BUSINESS WIRE)–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.
Kunal Patel, [email protected]
Claudia Restrepo, [email protected]
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