Liberty Interactive Announces Final Redemption Payment on 3.25% Senior
Exchangeable Debentures Due 2031
ENGLEWOOD, Colo. -- March 8, 2013
Liberty Interactive LLC (“Liberty”), a subsidiary of Liberty Interactive
Corporation (NASDAQ: LINTA/LINTB and LVNTA/LVNTB), announced the final
redemption payment to the holders of its outstanding 3.25% Senior Exchangeable
Debentures due 2031. Liberty previously announced that it would redeem the
debentures in full on March 8, 2013. The debentures are attributed to the
Liberty Ventures tracking stock group.
In connection with the redemption, Liberty elected to terminate the right of
debenture holders, effective January 25, 2013, to exchange their debentures
for the exchange market value of the reference shares attributable to the
debentures. The reference shares attributable to each debenture 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
equals the sum of (1) the adjusted principal amount of a debenture as of the
redemption date, (2) accrued and unpaid interest on such debenture to but not
including the redemption date and (3) any final period distribution on such
debenture. Each debenture holder has received a notice providing the details
of the redemption through the facilities of the Depositary Trust Company. The
final amount to be paid per bond is as follows:
Accrued Final Period Total per
Principal Interest Distribution bond
$ 1,000.00 $ 15.6181 $ 8.4478 $ 1,024.07
After the redemption, the company will have utilized $423.5 million of cash
during the first quarter for the retirement of these debentures.
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
Press spacebar to pause and continue. Press esc to stop.