Liberty Interactive Announces Full Redemption of 3.25% Senior Exchangeable Debentures Due 2031
25 Janeiro 2013 - 10:30AM
Business Wire
Liberty Interactive LLC (“Liberty”), a subsidiary of Liberty
Interactive Corporation (NASDAQ: LINTA/LINTB and LVNTA/LVNTB) today
announced that on March 8, 2013 (the Redemption Date), Liberty will
redeem in full all of its outstanding 3.25% Senior Exchangeable
Debentures due 2031. The debentures are attributed to the Liberty
Ventures tracking stock group.
In connection with the redemption, Liberty has elected to
terminate the right of debenture holders to exchange their
debentures for the exchange market value of the reference shares
attributable to the debentures. No further exchanges will be
permitted. The reference shares attributable to each debenture
currently consist of 9.2833 shares of Viacom class B common stock
and 9.2833 shares of CBS Corporation common stock.
The redemption price for each outstanding debenture will be paid
in cash, and will equal the sum of (1) the greater of (a) the
adjusted principal amount of a debenture as of the Redemption Date
(expected to be $1,000) and (b) 100% of the current market value of
the reference shares attributable to a debenture (as determined
pursuant to the indenture), (2) any accrued and unpaid interest on
such debenture to the Redemption Date and (3) any final period
distribution on such debenture. Each debenture holder will receive
a notice providing the details of the redemption through the
facilities of the Depositary Trust Company. As of January 25, 2013,
the aggregate outstanding principal amount of the debentures was
$413.7 million.
About Liberty Interactive LLC
Liberty Interactive LLC is a wholly owned subsidiary of Liberty
Interactive Corporation and owns interests in a broad range of
electronic retailing, media, communications, and entertainment
businesses.
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