Sable International Finance and Coral-US Co-Borrower, subsidiaries of Cable and Wireless Communications (a subsidiary of international cable company Liberty Global), entered into financing arrangements with The Bank of Nova Scotia as administrative agent.

The agreement provides for a $1.125 billion term loan facility with a maturity date of January 31, 2025 and interest payable of 3.50% per annum with a 0.00% floor.

The proceeds of the term loan facility were used to prepay in full the $1.1 billion outstanding amount of term B-1 loans and term B-2 loans and pay certain fees and expenses incurred in connection with the refinancing. The remaining proceeds will be used for general and working capital purposes.

The borrowers also entered into an agreement with The Bank of Nova Scotia as administrative agent for a $625 million revolving credit facility.

The final maturity date for the class B revolving credit commitments is June 30, 2023 and an interest rate of LIBOR plus 3.25%.

The revolving credit funds can be utilized for general corporate purposes and/or working capital purposes including the redemption, refinancing, repayment or prepayment of existing indebtedness of any member of the restricted group under the credit agreement, including the payment of fees and expenses in connection with the refinancing.