4 August, 2015

CWC PLC Announces Pricing of its offering of US$750 Million Senior Notes

Cable & Wireless Communications Plc ("CWC") today announces that it has priced the offering of US$750 million aggregate principal amount of Senior Notes due 2022 (the "Notes") to be issued by its finance subsidiary, Sable International Finance Limited. The Notes will bear interest at 6.875% per annum, payable semi-annually in arrears on 1 February and on 1 August of each year, beginning on 1 February 2016. The Notes are expected to be issued on 5 August 2015. The Notes are unsecured and guaranteed by CWC and certain of its subsidiaries.

The net proceeds from the offering of the Notes will be used primarily to repay a US$390 million senior secured two-year term facility and a US$300 million senior unsecured two-year term facility, the initial proceeds of which were used to finance a portion of the consideration for the acquisition of Columbus International Inc. The remaining net proceeds will be used for general corporate purposes.

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