Cable & Wireless unit gets $1.51 billion loan at Libor plus 225 bps

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – Cable & Wireless Communications plc subsidiary Sable International Finance Ltd. entered into an agreement for a $1.51 billion eight-year term B-5 facility on Jan. 24, according to an 8-K filing with the Securities and Exchange Commission.

Bank of Nova Scotia is the administrative agent and lender for the term B-5.

The borrower also extended its $575 million of class B revolving loans to Jan. 30, 2026.

The final maturity date for the term B-5 facility is Jan. 31, 2028. It bears interest at Libor plus 225 basis points with a 0% Libor floor.

Proceeds of the term B-5 loan a $150 million add-on to the company’s 5¾% senior secured notes due 2027 were used to prepay in full the term B-4 facility, which bore interest at Libor plus 325 bps.

London-based Cable & Wireless is a fixed, mobile and sub-sea network provider in Latin America and the Caribbean. Sable operates as a telecommunications company based in George Town, Cayman Islands.

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