Liberty Announces Semi-Annual Payment on 3.5% Senior Exchangeable Debentures Due 2031 - Results in Further Reduction of Adjus...
14 Janeiro 2013 - 7:30PM
Business Wire
Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty
Interactive Corporation (Nasdaq: LINTA, LINTB, LVNTA, LVNTB),
announced a semi-annual payment to the holders of its 3.5% Senior
Exchangeable Debentures due in 2031 (the "Debentures"). The amount
of the payment is $17.50 per $1,000 of original principal amount of
the Debentures.
Under the Indenture for the Debentures, the 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 3.5% 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 have been two extraordinary distributions to
holders of the Debentures. On January 10, 2007, Liberty made an
extraordinary distribution of $162.6160 per $1,000 original
principal amount of Debenture arising from Freescale
Semiconductor’s going private transaction. On June 20, 2012,
Liberty made an extraordinary distribution of $184.0960 per $1,000
original principal amount of Debenture arising from Motorola
Mobility Holdings, Inc (“MMI”) acquisition by Google.
The adjustments described above will not affect the amount of
the semi- annual payments received by holders of the debentures,
which will continue to be a rate equal to 3.5% per annum of the
original principal amount of the Debentures. Below is a detail of
the amount of the 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 of original principal amount of the
Debentures:
January 15, 2013Beginning
Adjusted Principal
Payment Interest
AdditionalPayment ofPrincipal
January 15, 2013Ending
AdjustedPrincipal
$619.0964 $17.50 $10.8342
$6.6658 $ 612.4306
The semi-annual interest payment and additional distribution are
expected to be made on January 14, 2013 to holders of record of the
Debentures on January 1, 2013.
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.
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