Commentary & Deal Flow

+++Corrects size in the headline: $550m (not $500m)+++

C&W Senior Finance Limited (Cable & Wireless) (CWCFIN) US$550m 144A/Reg S sr notes due 01/15/33 (8y). NC3 (50%,25%,par). Existing B2/B+/BB-. Via JPM (B&D)/BNP/CIBC/Citi/GS/Santander/Scotia jt books. No reg rights. List ISE. NY law. Settles T+3.

IPT: 9.25% area.

Investor call at 10:30am NYT 02/06. Pricing 02/06 afternoon. UOP: refinance its $735m 6.875% sr notes due 09/15/27 (callable at 100.859). Biz: C&W Communications, a sub of Liberty Latin America, is a full-service fixed, mobile and sub-sea network provider in the Caribbean, Latin America and the Seychelles (sub of Liberty Latin America). HQ: London, UK.