Liberty Communications of Puerto Rico’s $820 Million Offering

Shearman & Sterling represented the initial purchasers in the offering.

Liberty Communications of Puerto Rico executed its $820 million offering of 5.125% senior secured notes due 2029 by LCPR Senior Secured Financing Designated Activity Company. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on March 30, 2021.

J.P. Morgan Securities, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, Santander and Scotia Capital acted as initial purchasers in the offering.

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 in Puerto Rico and the United States Virgin Islands.

Shearman & Sterling represented the initial purchasers in the Ward Mckimm, Gordon Houseman, Oscar Lopez, Kristen Garry, Thomas Donegan, Daniel Kachmar, and Wilf Odgers.

Involved fees earner: Thomas Donegan – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Gordon Houseman – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Oscar Lopez – Shearman & Sterling; Ward McKimm – Shearman & Sterling; Wilf Odgers – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: BNP Paribas; Credit Suisse; Deutsche Bank; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Santander; Scotia Capital Inc.;

Author: Federica Tiefenthaler