CORRECTING & REPLACING Liberty Announces Semi-Annual Payment on 4.0% Senior Exchangeable Debentures Due 2029 - Results in Fur...
16 Maio 2014 - 8:06PM
Business Wire
In the first and fifth paragraphs of release dated May 15, 2014,
the amount of the additional distribution should read: $0.8489
per Debenture (instead of $1.0800 per Debenture).
The corrected release reads:
LIBERTY ANNOUNCES SEMI-ANNUAL PAYMENT ON 4.0% SENIOR
EXCHANGEABLE DEBENTURES DUE 2029 - RESULTS IN FURTHER REDUCTION OF
ADJUSTED PRINCIPAL AMOUNT
Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty
Interactive Corporation (Nasdaq: LINTA, LINTB, LVNTA, LVNTB),
announces a semi-annual payment and additional distribution to the
holders of its 4.0% Senior Exchangeable Debentures due 2029 (the
"Debentures"). The amount of the payment is $20.00 per $1,000
original principal amount of Debentures, and the amount of the
additional distribution is $0.8489 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 4.0% 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 $63.0960 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 payments received by holders
of the Debentures, which will continue to be a rate equal to 4.0%
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 original principal amount of
the Debentures:
May 15, 2014BeginningAdjusted
Principal
TotalPayment
Interest
AdditionalPayment ofPrincipal
May 15, 2014Ending AdjustedPrincipal
$936.9040 $20.0000 $18.7381
$1.2619 $ 935.6421
Liberty is also making an additional distribution of $0.8489 per
Debenture, attributable to the quarterly cash dividends paid by
CenturyLink Inc. on 12/6/13 and 3/21/14.
The semi-annual interest payment and additional distribution are
expected to be made on May 15, 2014 to holders of record of the
Debentures on May 1, 2014.
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.
SOURCE: Liberty Interactive LLC
Liberty InteractiveCourtnee Ulrich, 720-875-5420
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