Liberty Puerto Rico talks $820 million long eight-year notes to yield 5¼%-5½%; pricing Tuesday

By Abigail W. Adams

Portland, Me., March 22 – Liberty Communications of Puerto Rico LLC plans to price $820 million of 8.25-year senior secured notes (B1/B+) on Tuesday with initial price talk for a yield of 5¼% to 5½%, according to a market source.

The notes are non-callable for 3.25 years.

J.P. Morgan Securities LLC (lead left), BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Santander and Bank of Nova Scotia are bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to refinance its term loan due in 2026, to pay $250 million in dividends to Liberty Latin America and for general corporate purposes.

Liberty Communications of Puerto Rico is a Ponce, Puerto Rico-based telecommunications company.

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