Liberty Global subsidiaries close $300 million six-year term loan B-1B

By Tali Rackner

Norfolk, Va., Nov. 23 – Liberty Global plc wholly owned subsidiaries Sable International Finance Ltd. and Coral-US Co-Borrower LLC entered into a joinder agreement on Friday under which certain lenders agreed to provide a $300 million term loan B-1B facility, according to an 8-K filing with the Securities and Exchange Commission.

The loan under the term B-1B loan facility constitutes an increase to the existing term B-1 loan under the company’s credit agreement.

The term B-1B loan matures on Dec. 31, 2022 and bears interest at Libor plus 475 basis points with a 0.75% Libor floor.

Proceeds will be used to prepay debt under the revolving credit facility under the credit agreement and for general corporate purposes.

Bank of Nova Scotia is the administrative agent.

Liberty Global is a telecommunications company based in London.

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