Liberty Interactive Announces Full Redemption of 3.25% Senior Exchangeable
Debentures Due 2031
Right to exchange Debentures has been terminated
ENGLEWOOD, Colo. -- January 25, 2013
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.
Liberty Interactive Corporation
Courtnee Ulrich, 720-875-5420
Press spacebar to pause and continue. Press esc to stop.