Each $L$ and $C$ is the inductance and capacitance per length. The current and voltage in this circuit is represented by the so-called telegrapher's equations \begin{align} V(z + dz) = V(z) - L \, dz \, \dot{I}(z) \quad \text{and} \quad I(z + dz) = I(z) - C \, dz \, \dot{V}(z) \end{align} which can be rearranged, in the limit $dz \rightarrow 0$, to $$ \frac{\partial V}{\partial z} = - L \frac{\partial I}{\partial t} \quad \text{and} \quad \frac{\partial I}{\partial z} = - C \frac{\partial{V}}{\partial t} \, . $$ If we take $\partial/\partial z$ on the left equation, and $\partial/\partial_t$ on the right equation, and substitude the right into the left, we get $$ \left( \frac{\partial V}{\partial z} \right)^2 - LC \left(\frac{\partial V}{\partial t} \right)^2 = 0 $$$$ \left( \frac{\partial^2 V}{\partial z^2} \right) - LC \left(\frac{\partial^2 V}{\partial t^2} \right) = 0 $$ which is the wave equation for waves moving with phase velocity $v^2 = 1 / LC$ (remember $L$ and $C$ are per-length quantities).
The equations for the coupled lines can be expressed in a matrix form \begin{align} \frac{\partial}{\partial z} \ket{V} &= - [L] \frac{\partial}{\partial t} \ket{I} \\ \frac{\partial}{\partial z} \ket{I} &= - [C] \frac{\partial}{\partial t} \ket{V} \end{align} where $\ket{V}$ is the vector of voltages, $\ket{I}$ is the vector of currents, and $[L]$ and $[C]$ are matrices. The matrices are $$ [L] = \begin{bmatrix} -L_a & -L_m \\ -L_m & -L_b \end{bmatrix} \quad \text{and} \quad [C] = \begin{bmatrix} -(C_a + C_m) & C_m \\ C_m & -(C_b + C_m) \end{bmatrix} \, . $$$$ [L] = \begin{bmatrix} L_a & L_m \\ L_m & L_b \end{bmatrix} \quad \text{and} \quad [C] = \begin{bmatrix} (C_a + C_m) & -C_m \\ -C_m & (C_b + C_m) \end{bmatrix} \, . $$