Carey advised Liberty Global (VTR) in a reorganization of its credit pools.
February, 2014 - Santiago, Chile
On January 24, 2014, Liberty Global plc (Liberty Global) completed a reorganization of its credit pools. VTR GlobalCom and VTR Wireless, which operate Liberty Global's broadband and wireless businesses in Chile and are each 80% owned by Liberty Global, were placed in a separate credit pool with their parent, VTR Finance, an indirect wholly-owned subsidiary of Liberty Global. In connection with the reorganization, VTR Parent was extracted from the UPC Holding credit pool and VTR Parent and certain of its subsidiaries entered into the following financing transactions:
a) The issuance by VTR Parent of USD1.4 billion principal amount of 6-7/8% senior secured notes due 2024 (the Notes) under Rule 144A and Reg S.
b) A USD200 million senior secured revolving credit facility entered into by VTR GlobalCom, VTR Wireless and VTR Banda Ancha (Chile), as borrowers and JPMorgan Chase Bank, BNP Paribas, Goldman Sachs Bank USA and Morgan Stanley Senior Funding as original lenders and JPMorgan Chase Bank as Facility and Security Agent.
Carey advised VTR through a team led by partners Pablo Iacobelli, Guillermo Acuña and Felipe Moro, and associates Patricia Silberman, Juan Pablo Navarrete, Jaime Carey A., Feliciano Tomarelli and Agustín Fracchia.
