Ropes & Gray Advises Cable & Wireless in Connection with $755 Million Bond Offering and $1.53 Billion Term Loan Facility and Revolving Credit Commitments Increase and Extension

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 has advised C&W Senior Finance Limited on its upsized $755 million Rule 144A and Regulation S issuance of Senior Notes due 2033, the proceeds of which were used to refinance the group’s outstanding senior notes due 2027 in full. The firm has also advised Cable & Wireless Communications Limited and its subsidiaries in connection with a new term loan facility in an aggregate principal amount of $1.53 billion and an increase and extension of revolving credit commitments. The proceeds of the term loan will be used to refinance existing debt. 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 Notes issuance, the Ropes & Gray team was led by finance partner Rob Haak alongside finance associates Mohammed Al Rasheed, Facundo Nazur and Anushka Shah. On the loans refinancing, the Ropes & Gray team was led by finance partner Jane Rogers, with counsel Alexandru Mocanu, and finance associate Facundo Nazur. The teams were also supported on English law matters by finance partner Alex Robb alongside finance associates Benjamin Cooper, Chad Parkinson and Kahill Sarronwala and trainee Yinn Wong.

Ropes & Gray's London finance team is a leading legal adviser in public and private high yield markets and loan financings. They are one of a select group of firms with on-the-ground London capability to execute high-yield bond offerings and loan financings 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 and loan financings across industries and geographies ensures rapid execution with a nuanced ability to navigate complex issues.