Published on 1/30/2020 in the Prospect News High Yield Daily.
New Issue: Cable & Wireless issues $150 million more 5¾% secured notes due 2027
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Cable & Wireless Communications Ltd. issued a $150 million add-on to its 5¾% senior secured notes due Sept. 7, 2027 at 106 on Jan. 24, according to an 8-K filing with the Securities and Exchange Commission.
The issuing entity is Sable International Finance Ltd., a subsidiary of Cable & Wireless Communications.
The notes will form a single series with the $400 million of notes issued by Sable International in April 2019.
London-based Cable & Wireless is a fixed, mobile and sub-sea network provider in Latin America and the Caribbean.
| Issuer: | Sable International Finance Ltd.
|
| Issue: | Add-on senior secured notes
|
| Amount: | $150 million
|
| Maturity: | Sept. 7, 2027
|
| Coupon: | 5¾%
|
| Price: | 106
|
| First call: | Make-whole call at Treasuries plus 50 bps until Sept. 7, 2022, then callable at 102.875
|
| Equity clawback: | 40% at 105.75 until Sept. 7, 2022
|
| Settlement date: | Jan. 24
|
| Total issuance: | $550 million, including $400 million issued in April 2019
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
