Ropes & Gray Advises Cable & Wireless Communications, Subsidiary of Liberty Latin America, on Bond and Loan Refinancing Transactions

In The News
October 8, 2024

Ropes & Gray has advised Cable & Wireless Communications Limited, a subsidiary of Liberty Latin America Ltd., and its subsidiaries in connection with bond and loan refinancing transactions to proactively address near-term debt maturities.

The firm advised Sable International Finance Limited on its upsized $1 billion Rule 144A and Regulation S issuance of Senior Secured Notes due 2032, the proceeds of which were used to refinance the group’s outstanding senior secured notes due 2027 in full, and outstanding senior notes due 2027 in part, as well as in connection with certain maturity extension amendments to the group’s revolving credit facilities. Together, these transactions address a significant portion of the Cable & Wireless group’s near-term debt maturities and pave the way for the group to opportunistically manage its maturity profile in the future.

On the Senior Secured Notes issuance, the Ropes & Gray team was led by finance partner Rob Haak alongside finance associates Mohammed Al Rasheed and Facundo Nazur. On the revolving credit facility, the Ropes & Gray team was led by finance partner Jane Rogers, with counsel Alexandru Mocanu, and finance associates Matea Scepanovic and Shabdita Gupta. The teams were also supported on English law matters by finance partner Alex Robb alongside finance associate Kahill Sarronwala.

Ropes & Gray's London finance team is a leading legal adviser in public and private high yield markets. They are one of a select group of firms with on-the-ground London capability to execute high-yield bond offerings under both English and New York law. This provides clients with cross-border and cross-product expertise with the flexibility and responsiveness of being in the same time zone. Its London finance team is committed to supporting issuers and borrowers in promoting their finance objectives and has a depth of knowledge and experience in this area. In particular, their extensive experience in Rule 144A/Regulation S high-yield debt offerings across industries and geographies ensures rapid execution with a nuanced ability to navigate complex issues.