Ropes & Gray has represented Liberty Puerto Rico in its new five-year $250 million secured financing through an unrestricted subsidiary of which $200 million has been drawn and $50 million will be available over the next twelve months. The deal was announced in a Sept. 25 press release.
The facility matures in 2030 and has a fixed coupon of 9.75 percent per annum. The financing is secured by certain fixed network and wireless spectrum assets of the Puerto Rico business and was provided by Diameter Capital Partners.
Liberty Puerto Rico is a leading fixed and mobile telecommunications provider in Puerto Rico and the U.S. Virgin Islands, and is wholly owned by Liberty Latin America.
The Ropes & Gray team included finance partners Jane Rogers and Robert Haak and associate Max Silverstein, business restructuring partner Daniel Gwen and associate Angeline Hwang, and tax partner David Saltzman.
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