Chicago, Jan. 20 – Liberty Servicios Fijos LY SA issued $400 million of 10 7/8% sustainability-linked senior secured notes due 2031 (B2/B+) to investors, according to multiple announcements.
IDB Invest helped structure the Rule 144A and Regulation S financing.
Citigroup (lead left), BofA Securities, and Scotiabank were joint bookrunners.
The issuer is Liberty Costa Rica Senior Secured Finance.
Proceeds were allocated to finance investments in fiber-to-the-home, increase capabilities and speeds of the HFC network, capital expenditures related to 4G/5G infrastructure, refinance certain financial obligations, working capital, and general corporate purposes.
Liberty Servicios Fijos LY SA is a subsidiary of Liberty Latin America. The company was formerly known as Cabletica.
| Issuer: | Liberty Costa Rica Senior Secured Finance
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| Amount: | $400 million
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| Issue: | Sustainability-linked senior secured notes
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| Maturity: | Jan. 15, 2031
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| Bookrunners: | Citigroup (lead left), BofA Securities, and Scotiabank
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| Second-party opinion: | Moody’s ESG Solutions
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| ESG adviser: | Scotia bank
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| Counsel to issuer: | Ropes & Gray, BLP, Maples Group
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| Counsel to underwriters: | Baker McKenzie, Consortium Legal, Appleby
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| Coupon: | 10 7/8%
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| Price: | Par
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| Yield: | 10 7/8%
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| Trade date: | Jan. 11, 2023
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| Settlement date: | Jan. 26, 2023
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| Ratings: | Moody’s: B2
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| S&P: B+
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| Distribution: | Rule 144A and Regulation S
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| ISIN: | US530371AA13, USG53901AA58
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