Liberty Communications Puerto Rico Places $90 Million Senior Secured Notes Add-On Via Private Placement

Denver, Colorado – May 26, 2020: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ:LILA and LILAK, OTC Link: LILAB) today announced its subsidiary, Liberty Communications Puerto Rico (“LCPR”) has successfully completed the issuance of $90 million of additional 6.75% Senior Secured Notes due 2027, through LCPR Senior Secured Financing Designated Activity Company (the “Issuer”). The transaction was executed on a Private Placement basis with a limited number of existing investors. The new notes priced at 102.5% of par,reflecting a yield to maturity of approximately 6.3%, and will increase the principal size of the Issuer's outstanding notes to $1,290 million.

Proceeds from the issuance have been placed into escrow and will support the funding of LCPR's $1.95 billion acquisition of AT&T's assets in Puerto Rico and the U.S. Virgin Islands, expected to close in the second half of 2020.

Naji Khoury, CEO of LCPR commented: “We are pleased to see continued support and trust from our investor base. Since the announcement of our acquisition of AT&T’s assets in Puerto Rico & the USVI last October, we have made significant progress on the integration and regulatory approval process and remain on track to close the transaction later this year. We continue to be very excited about the combination with AT&T and the prospect of creating the leading integrated communications and entertainment provider in Puerto Rico.”

FUNDING TO SUPPORT ACQUISITION OF AT&T’S ASSETS IN PUERTO RICO AND THE U.S. VIRGIN ISLANDS