Shearman & Sterling advised Liberty Global on its novel cross-currency hedging transaction to hedge exposure to foreign exchange risk in respect of the Jamaican dollar following its acquisition of Cable & Wireless Communications. This cross-currency transaction was entered into with Goldman Sachs International and has a notional amount of approximately $80 million.
Shearman & Sterling has a long-standing relationship with Liberty Global, having previously advised on its $8.2 billion (£5.5 billion) acquisition of CWC.
Liberty Global is the largest international cable company, with market-leading operations across 14 countries. Liberty Global had 54 million homes passed, 27 million customers and 57 million video, voice and Internet subscriptions along with seven million mobile subscribers and six million WiFi access points.*
Liberty Global's current consumer brands are Virgin Media, Ziggo, Unitymedia, Telenet, UPC, VTR, CWC and Liberty (Puerto Rico).
*As of 31 March, 2016