v3.26.1
Debt and Finance Lease Obligations (Tables)
6 Months Ended
Jun. 30, 2026
Debt and Lease Obligation [Abstract]  
Schedule of Debt
The U.S. dollar equivalents of the components of our debt are as follows:
June 30, 2026Estimated fair value (c)Principal amount
Weighted
average
interest
rate (a)
Unused borrowing capacity (b)
Borrowing currencyUS $ equivalentJune 30,
2026
December 31, 2025June 30,
2026
December 31, 2025
in millions
C&W Notes7.93 %— $— $1,757.1 $1,793.8 $1,755.0 $1,755.0 
C&W Credit Facilities (d)6.46 %(e)654.3 2,534.8 2,603.7 2,615.8 2,646.2 
LPR Senior Secured Notes6.08 %— — 1,120.0 1,285.5 1,981.0 1,981.0 
2028 LPR Term Loan7.66 %— — 351.1 400.7 620.0 620.0 
LPR Credit Facilities12.00 %190.0 190.0 400.0 200.0 410.0 208.0 
2027 LPR Revolving Credit Facility— %— — — 31.1 — 56.5 
LCR Credit Facilities
10.16 %20.0 20.0 527.5 538.0 510.0 515.0 
Vendor financing, Tower Transactions and other (f) (g)8.47 %— — 635.7 568.1 635.7 568.1 
Total debt before premiums, discounts and deferred financing costs7.40 %$864.3 $7,326.2 $7,420.9 $8,527.5 $8,349.8 
The following table provides a reconciliation of total debt before premiums, discounts and deferred financing costs to total debt and finance lease obligations:    
June 30,
2026
December 31, 2025
in millions
Total debt before premiums, discounts and deferred financing costs
$8,527.5 $8,349.8 
Premiums, discounts and deferred financing costs, net
(85.9)(79.3)
Total carrying amount of debt
8,441.6 8,270.5 
Finance lease obligations
6.9 8.7 
Total debt and finance lease obligations
8,448.5 8,279.2 
Less: Current maturities of debt and finance lease obligations
(422.4)(408.8)
Long-term debt and finance lease obligations
$8,026.1 $7,870.4 
(a)Represents the weighted average interest rate in effect at June 30, 2026 for all borrowings outstanding pursuant to each debt instrument, including any applicable margin. The interest rates presented generally represent stated rates and do not include the impact of derivative instruments, deferred financing costs, original issue premiums or discounts and commitment fees, all of which affect our overall cost of borrowing.
(b)Unused borrowing capacity represents the maximum availability under the applicable facility at June 30, 2026 without regard to covenant compliance calculations or other conditions precedent to borrowing. At June 30, 2026, the full amount of unused borrowing capacity was available to be borrowed under each of the respective subsidiary facilities, both before and after completion of the June 30, 2026 compliance reporting requirements. At June 30, 2026, except as may be limited by tax and legal considerations, the presence of noncontrolling interests, foreign currency exchange restrictions with respect to certain C&W subsidiaries and other factors, there were no restrictions on the respective subsidiary’s ability to upstream cash from this availability to Liberty Latin America or its subsidiaries or other equity holders.
(c)The estimated fair values of our debt instruments are determined using the applicable bid prices (mostly Level 1 of the fair value hierarchy) or from quoted prices for similar instruments in active markets adjusted for the estimated credit spreads of the applicable entity, to the extent available, and other relevant factors (Level 2 of the fair value hierarchy). For additional information regarding fair value hierarchies, see note 3.
(d)Includes other facilities that are generally repaid in three annual installments.
(e)The C&W Credit Facilities’ unused borrowing capacity comprises certain U.S. dollar, Trinidad & Tobago dollar, and JMD revolving credit facilities.
(f)Includes Tower Transactions associated with certain of our mobile towers across various markets. The Tower Transactions did not meet the criteria to be accounted for as a sale and leaseback. The proceeds from the Tower Transactions are recorded as a financial liability and the associated tower assets remain on our condensed consolidated balance sheets. During the six months ended June 30, 2026 and 2025, we received proceeds of $2 million and nil, respectively, related to the Tower Transactions, which are included in borrowings of debt in our condensed consolidated statements of cash flows.
(g)Includes $381 million and $306 million at June 30, 2026 and December 31, 2025, respectively, owed pursuant to interest-bearing vendor financing arrangements that are used to finance certain of our operating expenses and property and equipment additions. These obligations are generally due within one year, other than for certain licensing arrangements that are generally due over the term of the related license, and include VAT that was paid on our behalf by the vendor. Our operating expenses were $129 million and $81 million for the six months ended June 30, 2026 and 2025, respectively, that were financed by an intermediary and are reflected on the borrowing date as a cash outflow within net cash provided or used by operating activities and a cash inflow within net cash provided or used by financing activities in our condensed consolidated statements of cash flows. Repayments of vendor financing obligations are included in payments of principal amounts of debt and finance lease obligations in our condensed consolidated statements of cash flows.
Schedule of Line of Credit Facilities
During the six months ended June 30, 2026 and 2025, borrowings related to significant credit facilities we drew down, entered into or amended, are as follows:
PeriodBorrowing group/ BorrowerInstrumentIssued atMaturityInterest rateAmount borrowed (a)Non-cash component
in millions
2026C&W2027 C&W RCFN/AJanuary 30, 2027
Adjusted Term SOFR + 3.25%
$3.8 $— 
2026C&W2029 C&W RCFN/AApril 15, 2029
Term SOFR + 3.25%
$11.2 $— 
2026Liberty Puerto Rico2027 LPR Revolving Credit FacilityN/AMarch 15,
2027
Adjusted Term SOFR + 3.50%
$29.7 $— 
2026Liberty Puerto Rico2030 LPR Revolving Credit FacilityN/ASeptember 23,
2030
Term SOFR + 4.25%
$86.2 $10.0 
2026Liberty Puerto Rico2030 LPR Term Loan 196%September 23,
2030
12.00%$50.0 $— 
2026Liberty Puerto Rico2030 LPR Term Loan 2100%September 23,
2030
12.00%$150.0 $— 
2026Liberty Costa RicaLCR Revolving Credit FacilityN/AJanuary 15,
2028
Term SOFR + 4.25%
$40.0 $— 
2025C&W
 2027 C&W RCF (b)
N/AJanuary 30,
2027
Adjusted Term SOFR + 3.25%
$82.9 $— 
2025C&W
2029 C&W RCF (b)
N/AApril 15,
2029
Term SOFR + 3.25%
$141.1 $— 
2025C&W
C&W Term Loan B-7 Facility
99.5%January 31,
2032
Term SOFR + 3.25%
$1,522.4 $1,510.0 
2025C&W
2033 C&W Senior Notes
100%January 15,
2033
9.00%$755.0 $— 
2025Liberty Puerto Rico2027 LPR Revolving Credit FacilityN/AMarch 15,
2027
Adjusted Term SOFR + 3.50%
$110.6 $— 
2025Liberty Costa RicaLCR Revolving Credit FacilityN/AJanuary 15,
2028
Term SOFR + 4.25%
$35.0 $— 
N/A – Not applicable.
(a)Amounts borrowed are net of original issue discounts, as applicable.
(b)The 2027 C&W RCF and the 2029 C&W RCF compose the C&W Revolving Credit Facility. During 2025, the C&W Revolving Credit Facility was amended. Under the terms of the amended agreement, $460 million of commitments (i) had their maturity date extended to April 15, 2029, effective upon the refinancing of the C&W Term Loan B-5 Facility, and (ii) will automatically have their maturity date extended to January 31, 2031 upon the occurrence, if any, of the refinancing of the C&W Term Loan B-6 Facility.
During the six months ended June 30, 2026 and 2025, we made certain repurchases or repayments on the following debt instruments:
PeriodBorrowing group / BorrowerInstrumentRedemption pricePrincipal amount redeemedNon-cash component
in millions
2026C&W
2027 C&W RCF (a)
100%$3.8 $— 
2026C&W
2029 C&W RCF (a)
100%$11.2 $— 
2026C&WC&W Regional Facilities100%$30.5 $— 
2026Liberty Puerto Rico2027 LPR Revolving Credit Facility100%$86.2 $— 
2026Liberty Puerto Rico2030 LPR Revolving Credit Facility100%$86.2 $10.0 
2026Liberty Costa Rica2031 LCR Term Loan A100%$5.0 $— 
2026Liberty Costa Rica2031 LCR Term Loan B103%$40.0 $— 
2025C&W
2027 C&W RCF (a)
100%$51.5 $— 
2025C&W
2029 C&W RCF (a)
100%$107.5 $— 
2025C&W2027 C&W Senior Notes100.859%$735.0 $— 
2025C&WC&W Term Loan B-5 Facility100%$1,510.0 $1,510.0 
2025C&WC&W Regional Facilities100%$30.5 $— 
2025Liberty Puerto Rico2027 LPR Revolving Credit Facility100%$103.6 $— 
(a)The 2027 C&W RCF and the 2029 C&W RCF compose the C&W Revolving Credit Facility.
Schedule of Maturities of Debt
Maturities of our debt as of June 30, 2026 are presented below. Amounts presented below represent U.S. dollar equivalents based on June 30, 2026 exchange rates:
C&WLiberty Puerto RicoLiberty Costa RicaLiberty Latin America (a)Consolidated
in millions
Years ending December 31:
2026 (remainder of year)$195.9 $6.0 $40.0 $0.6 $242.5 
2027180.4 1,163.8 — 0.7 1,344.9 
2028492.6 621.6 — — 1,114.2 
2029595.0 820.7 — — 1,415.7 
20305.7 410.8 — — 416.5 
Thereafter3,485.7 38.0 470.0 — 3,993.7 
Total debt maturities4,955.3 3,060.9 510.0 1.3 8,527.5 
Premiums, discounts and deferred financing costs, net
(39.4)(36.3)(10.2)— (85.9)
Total debt$4,915.9 $3,024.6 $499.8 $1.3 $8,441.6 
Current portion$370.5 $7.8 $40.0 $1.3 $419.6 
Long-term portion$4,545.4 $3,016.8 $459.8 $— $8,022.0 
(a)Represents the aggregate amount held by subsidiaries of Liberty Latin America that are outside our borrowing groups.