QVC Announces Proposed Senior Secured Notes Offering
March 11 2015 - 8:31AM
Business Wire
QVC, Inc. announced today its intention to offer an additional
amount of Senior Secured Notes due 2043 (the “Notes”), subject to
market and other conditions. The Notes are being issued as
additional notes under the indenture governing QVC’s existing $300
million 5.950% Senior Secured Notes due 2043 (“existing 5.950%
senior notes”) and will have identical terms to, and are expected
to be treated as a single class with, the existing 5.950% senior
notes. The net proceeds from the offering will be used, in addition
to cash on hand and, if necessary, funds borrowed under QVC’s
senior secured credit facility, for the redemption of QVC’s 7.375%
senior secured notes due 2020. QVC is a wholly-owned subsidiary of
Liberty Interactive Corporation (Nasdaq: QVCA, QVCB, LVNTA,
LVNTB).
QVC will make the offering pursuant to an exemption under the
Securities Act of 1933, as amended (the “Securities Act”). The
initial purchasers will offer the Notes only to Qualified
Institutional Buyers as permitted under Rule 144A of the Securities
Act, or outside the United States to certain persons in reliance on
Regulation S under the Securities Act. The Notes will not be
registered under the Securities Act and may not be sold in the
United States absent registration or an exemption from the
registration requirements of the Securities Act.
In connection with the offering of the Notes, QVC will agree,
subject to certain conditions, to file a registration statement
relating to a registered offer to exchange the Notes for new
registered notes having substantially identical terms as the
Notes.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy the offered Notes, nor shall there be any sales of Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, statements about the
completion of the offering and the use of proceeds from the
offering. These forward-looking statements involve many risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements, including,
without limitation, general market conditions. These forward
looking statements speak only as of the date of this press release,
and QVC expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in QVC’s
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Please refer to the publicly filed documents of QVC, including the
most recent Form 10-K for additional information about QVC and
about the risks and uncertainties related to QVC’s business which
may affect the statements made in this press release.
Liberty Interactive CorporationCourtnee Ulrich, 720-875-5420
Liberty Interactive Corp. - Series A Liberty Ventures (delisted) (NASDAQ:LVNTA)
Historical Stock Chart
From Oct 2024 to Nov 2024
Liberty Interactive Corp. - Series A Liberty Ventures (delisted) (NASDAQ:LVNTA)
Historical Stock Chart
From Nov 2023 to Nov 2024
