Shearman And Sterling

News May 26, 2020

Liberty Communications of Puerto Rico’s $90 Million Private Placement

Shearman & Sterling advised the note purchasers on Liberty Communications of Puerto Rico’s private placement of $90 million additional aggregate principal amount of 6.750% senior secured notes due 2027 by LCPR Senior Secured Financing Designated Activity Company.

The net proceeds of the offering are intended to be used to finance in part, along with proceeds raised pursuant to an issuance of notes in October 2019, Liberty Latin America’s $1.95 billion proposed acquisition of AT&T Inc.’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands. 

Liberty Communications of Puerto Rico is the largest cable operator in Puerto Rico. The company provides enhanced video, broadband internet and digital (VoIP) telephony services primarily to residential customers on the island.

The Team