Liberty Announces Semi-Annual Interest Payment on 3.75% Senior Exchangeable Debentures Due 2030 - Results in Further Reductio...
February 17 2015 - 3:39PM
Business Wire
Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty
Interactive Corporation (Nasdaq: QVCA, QVCB, LVNTA, LVNTB),
announces a semi-annual interest payment and an additional
distribution to the holders of its 3.75% Senior Exchangeable
Debentures due 2030 (the "Debentures"). The amount of the interest
payment is $18.75 per $1,000 original principal amount of
Debentures, and the amount of the additional distribution is
$0.62056 per Debenture.
Under the Indenture for the Debentures, the original principal
amount of the Debentures is adjusted in an amount equal to each
extraordinary distribution made to holders of the Debentures.
Thereafter, the adjusted principal amount is further reduced on
each successive semi-annual interest payment date to the extent
necessary to cause the semi-annual interest payment to represent
the payment of an annualized yield of 3.75% of the adjusted
principal amount. This latter adjustment, to the extent it is made
by reason of a particular extraordinary distribution that results
in an adjustment to the principal amount of the Debentures, takes
effect on the second succeeding interest payment date after the
payment of that extraordinary distribution.
To date, there has been one extraordinary distribution to
holders of the Debentures. On August 7, 2013, Liberty made an
extraordinary distribution of $46.1258 per $1,000 original
principal amount of Debenture arising from the merger transaction
between Sprint Nextel Corporation and SoftBank Corp.
Adjustments to the principal amount of the Debentures do not
affect the amount of the semi-annual interest payments received by
holders of the Debentures, which will continue to be a rate equal
to 3.75% per annum of the original principal amount of the
Debentures. Below is a detail of the amount of the semi-annual
interest payment being made on the Debentures, its allocation
between payment of interest and repayment of principal and the
revised adjusted principal amount resulting from the payment, per
$1,000 original principal amount of the Debentures:
February 15, 2015BeginningAdjusted
Principal
TotalPayment
Interest
AdditionalPayment ofPrincipal
February 15, 2015Ending
AdjustedPrincipal
$952.1282 $18.7500
$17.8524
$0.8976
$ 951.2306
Liberty is also making an additional distribution of $0.62056
per Debenture, attributable to the quarterly cash dividends paid by
CenturyLink Inc. on 9/12/14 and 12/5/14. The additional
distribution will not result in an adjustment to the principal
amount of the Debentures.
The semi-annual interest payment and additional distribution are
expected to be made on February 17, 2015 to holders of record of
the Debentures on February 1, 2015.
About Liberty Interactive LLC
Liberty Interactive LLC is an intermediate subsidiary of Liberty
Interactive Corporation, owning interests in a broad range of
electronic retailing, media, communications, and entertainment
businesses.
Liberty Interactive LLCCourtnee Ulrich, 720-875-5420
Liberty Interactive Corp. - Series A Liberty Ventures (delisted) (NASDAQ:LVNTA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Liberty Interactive Corp. - Series A Liberty Ventures (delisted) (NASDAQ:LVNTA)
Historical Stock Chart
From Jul 2023 to Jul 2024