Leading global law firm Baker McKenzie advised a syndicate of initial purchasers on a sustainability-linked financing to Liberty Latin America's subsidiary, Liberty Servicios Fijos LY, S.A. (“Liberty Costa Rica”, formerly known as Cabletica S.A.). The financing package consisted of a $50 million A Loan and a $400 million B Loan/B-Bond structure provided to Liberty Costa Rica by IDB Invest. The B Loan/B-Bond structure was financed by a special purpose entity that acted as a participant in the IDB Invest B Loan and funded its participation through the issuance of $400 million sustainability-linked senior secured notes due 2031 to investors in the international debt capital markets in accordance with Rule 144A and Regulation S under the U.S. Securities Act of 1933.
The Baker McKenzie team was led by London-based partners Haden Henderson, Ben Wilkinson and Rob Mathews and supported by associates Ben Bierwirth, Elaine Baynham, Bernice Gan, Fani Chlampoutaki, Sang Won Koo and trainees Rebecca Gilmore and Olivia Wells. The London team was supported by teams from the Firm’s offices in the US by Kai Kramer (Partner, Houston), John Murphy (Partner, Miami), Ross Staine (Partner, Houston), Maura Ann McBreen (Partner, Chicago), as well as further colleagues from various Baker McKenzie offices.
The transaction launched on January 3, 2023, with pricing on January 11, 2023 and closing January 26, 2023
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